What do you mean by Goods Clearing ? What are the journal entries for Clearing

What do you mean by Goods Clearing ? What are the journal
entries for Clearing of Goods ?

Question Posted / shreeram

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What do you mean by Goods Clearing ? What are the journal entries for Clearing of Goods ?..

For Goods clearing journal entries are happened like that

When goods received againest PO entry will be

Inventary Rawmaterial a/c Dr

To GR clearing a/c

When Invoice is raised entry will be

GR clearing a/c Dr
TO Vendor a/c

Is This Answer Correct ?

16 Yes

5 No

What do you mean by Goods Clearing ? What are the journal entries for Clearing of Goods ?..

Answer / veerababu

Goods Clearing is related to Inventary Management. Whenever
Goods received against purshage order throught MIGO T.code
then GR/IR A/c Dr and Party A/c Cr. So Goods clearing
account automatically clear.

Is This Answer Correct ?

8 Yes

6 No

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