What is GR/IR documet? why to use it? when to use it? what
is the Menu- Path for GR/IR document? Please some body
explain it...
Answers were Sorted based on User's Feedback
Answer / cecil
GR/IR account is an intermediate account or adjustment account. When goods are ordered through a PO, the goods are invoiced and shipped.
However when the goods are received and invoice not yet sent/received the following happens. The inventory is debited and GR/IR account credited.
Inventory dr
GR/IR account Cr.
When the invoice is received, the GR/IR account is Debited and the Vendor is credited.
GR/IR account Dr.
Vendor account Cr.
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / soumik basu
GR/IR is basically use for Integration with MM module with FI
1)Stock-----dr
to
GR/IR clearing
GR/IR clearing----dr
to
Vendor a/c...
Is This Answer Correct ? | 5 Yes | 6 No |
Answer / satya
GR/IR Accounting is intermediate account. It is useful to
identify the difference between GR and IR. Make sure GR/IR
to be settled we can't show in FSV. Month-end we need to
settle the GR/IR clearing account to GR/IR adjustment
account (Intermediate Account) to Goods received but not yet
invoiced / invoice received but goods not yet received
(target Accounts)
Is This Answer Correct ? | 1 Yes | 2 No |
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