What should be my accounting entry in procurement?

For Domestic Procurement of Raw Material During GR Material Stock GR/IR clearing During Excise Invoice Credit Cenvat Account Cenvat Clearing During Invoice Verification Cenvat Clearing GR/IR Clearing Vendor Payable For Domestic procurement of Capital Goods During GR Material Stock GR/IR clearing During Excise Invoice Credit Cenvat Account Cenvat On-hold Cenvat Clearing During Invoice Verification Cenvat Clearing GR/IR Clearing Vendor Payable Dr. Dr. Cr Dr. Dr. (50%) (50%) Cr. Dr. Cr. Dr. Dr. Cr. Dr. Cr. Dr. Cr.

Subsequent of Capital Goods Cenvat Account Cenvat On-hold For Import Procurement of Raw Material During Customs Duty Clearing invoice Custom Clearing Custom Payable During GR Material Stock GR/IR clearing During Excise Invoice Credit Cenvat Account Custom Clearing During Invoice Verification GR/IR Clearing Vendor Payable Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. (50%) Cr. (50%)

For Excise Duty Credit of Raw Material without PO Cenvat Account Cenvat Clearing For Excise Duty Reversal through Excise JV Cenvat Clearing Cenvat Account Dr. Cr. Dr. Cr.

What should be my accounting entry when the goods are issued through MM and excise invoice is created (J1IS & J1IV)? During Excise Invoice Creation Cenvat Suspense Account Cenvat payable Dr. Cr.

For TR6C Challan

PLA Account

Dr.

PLA on hold Account

Cr.

During Fortnightly Utilization

Cenvat payable

Dr.

Cenvat Account

Cr.

PLA Account

Cr.

Note: Cenvat Suspense Account should be cleared appropriately using FI JV's.

What should be my accounting entry in subcontracting reversal / Recredit?

For Subcontracting Challan Reversal

Cenvat Reversal

Dr.

Cenvat Account

Cr.

For Subcontracting Challan Recredit

Cenvat Account

Dr.

Cenvat Reversal

Cr.

What should be my accounting entry in SD ?

For Factory Sale

During Billing Document

Customer Account

Dr.

Sales Account

Cr.

Cenvat Suspense Account

Cr.

During Excise Invoice Creation

Cenvat Suspense Account

Dr.

Cenvat payable

Cr.

For TR6C Challan

PLA Account

Dr.

PLA on hold Account

Cr.

During Fortnightly Utilization

Cenvat payable

Dr.

Cenvat Account

Cr.

PLA Account

Cr.

For Stock Transfer through SD

No Accounting entries for Performa Billing Document

During Excise Invoice Creation

Cenvat Suspense Account

Dr.

Cenvat payable

Cr.

For TR6C Challan

PLA Account

Dr.

PLA on hold Account

Cr.

During Fortnightly Utilization

Cenvat payable

Dr.

Cenvat Account

Cr.

PLA Account

Cr.

Note: Cenvat Suspense Account should be cleared appropriately using FI JV's. Posted by SAP 1 comments Accounting Entries related to MM transactions...

Labels: SAP FI, SAP FICO, SAP MM

Initial stock entry:

Movement type - 561(Receipt per initial entry of stock balances into unrestricted-use)

TCODE - MB1C

FI Document Type - WA

89

Raw material

BSX

91

Initial Stock entry

GBB

BSA

Physical inventory differences:

Movement type 702 (Goods Issue Physical Inventory difference) this is triggered because of the movement type 102, which is given while calculating the difference INV: for expenditure/income from inventory differences

TCODE - MI07 (MI01 & MI04)

FI Document Type - WI

81

Inventory differences G/L

GBB

INV

99

Raw material

BSX

Goods Issue to Production Order:

Movement type - 261 (Consumption for order from warehouse) VBR: for internal goods issues (for example, for cost center)

TCODE - MB1A

FI Document Type - WA: Goods Issue

81

Raw material Consumption

GBB

VBR

99

Raw material

BSX

In case Movement type given is 201(Consumption for cost center from warehouse), at the time of MB1A system asks for the COST CENTER & GENERAL LEDGER. Here, the account determination happens directly from MB1A and not from the OBYC. Accounting entry will be same as above except the 'Raw material Consumption'; it triggers whatever the GL given.

Goods Issue / Delivery: SD

Movement type - 601 (Customer delivery) VAX: for goods issues for sales orders without account assignment object (the account is not a cost element)

TCODE - VL02

FI Document Type - WL: Goods Issue/Delivery

81

Mater. consumed/trading goods without cost element COGS

GBB

VAX

99

Finished Goods

BSX

Goods Receipt: FG PP

Movement type - 101 (Goods Receipt) GBB-AUF: for goods receipts for orders (without account assignment) and for order settlement if AUA is not maintained

TCODE - MB31 Goods Receipt for Production Order

FI Document Type - WE: Goods Receipt

89

Finished Goods

BSX

91

Inventory change factory output COGP

GBB

AUF

Goods Receipt: RM MM

Movement type - 101 (Goods Receipt)

TCODE - MIGO Goods Receipt for Purchase Order

FI Document Type - WE: Goods Receipt

89

Raw Material

BSX

96

GR / IR Clearing account

WRX

Invoice Receipt: RM MM

Movement type - 101 (Goods Receipt)

TCODE - MIGO Goods Receipt for Purchase Order

FI Document Type - WE: Goods Receipt

86

GR / IR Clearing account

WRX

31

Vendor account

KBS

KBS is without any account determination and posting keys are 81 & 91. It triggers when there is no material is assigned in the PO at that time.

WRX In case of any posting required without material, account determination should be without valuation class.

If price changed at the time of IR, then based on the difference in the material price system posts amounts to particular material account and not to the price difference account (this is related to the materials with price control V).

Material Valuation: MM

Movement type -

TCODE - MR22 Dr/Cr Material material valuation (below given calculation) & MR21: Price Change (Difference amount posts to the material account and calculation is ((New price Old price) * Quantity)

FI Document Type - PR: Price change Below entry in case of price increase

89

Raw material

BSX

93

Material Valuation

UMB

Calculation - {Current Stock Value + (Amount given in MR22 / Quantity given in MR22 * Cr. Quantity)}

Billing Document: SD

TCODE - VF01 Billing - VF11 Cancel Billing

FI Document Type - RV: Billing document transfer - RW: Reversal of billing

01

Customer account

BSX

50

Sales Revenue account

UMB