Interested to Buy Any Domain ? << Click Here >> for more details...
What is GR/IR account? Why do you maintain that? Explain the
importance of GR/IR clearing account.
- 19 Answers
- 234662 Views
- IBM, Nipuna, Orica, TE, I also Faced
- E-Mail Answers
Answer Posted / nuwantha
GR IR is an intermediate account created while raising Goods
Received Notes (GRN).
The account gets cleared after the Invoice (IV) is done.
After GRN is raised:
Dr. Expenditure A/c
Cr. GR/IR A/c
After IV is done:
Dr. GR/IR
Cr. Vendor A/c
After payment
Dr. Vendor A/c
Cr. Bank
If GR IR is high it shows that the Company has a high liability.
It also states that the IV is not done in time.
It can be reduced by doing the IV in time.
| Is This Answer Correct ? | 38 Yes | 11 No |
Post New Answer View All Answers
What are special types of log records?
What is the indirect allocation method of postings in co? : co- cost center accounting
In gl master, we have a option “balance in local currency” and “account currency”. What does it mean?
hi my name kali i have 6 month experience in sap fico module how to get job kindly help me
please can somebody help me to configure TAXINN, what are steps involved..
We have two diffferent bank accounts in our System that is icici bank & citi bank but the vendor wants us to pay him 100000 from two different accounts that is from axis bank and union bank so how we should configure in our sap system so that we can pay to vendor through App.
Explain automatic primary cost planning? : co- cost center accounting
What is the meaning of additive costs in sap and why is it required?
What is internal recruitment ?
How do you maintain currency in sap?
how can I bank payment (standard/partial/residual) against purchasing document and WBS Element. how data will be flow in fbl3n
Change of General Ledger Cost Assignment :- We have two major company codes and plus a minor one. In order to assign intra and inter company costs correctly SAP was set up to assign cost at goods issue to the general ledger account 100000 according to plant. Now we combined two company code into one. Every end of month we must re-class costs out of the plant cost center into the cost center associated with the sales office. It is possible that we directly assign cost to cost center of cost office, how can it be possible? Please tell me how we can make this process easier. Thanks in advance, Manoj
Define relationship between controlling area and company code?
Explain co automatic account assignment? : co- cost center accounting
When do you use special period?
