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  • Sno Transaction T Code Other Info GL Account: Procurement To Pay Cycle Account Entries

    Enviado por

    Hemachandran Tiruvallur Kannappan
    27 visualizações4 páginas
    The document outlines the key accounting entries for a procure to pay cycle in 9 steps: 1) Goods receipt without quality check debits inventory and credits clearing accounts. 2) Goods receipt with quality check has no entry. 3) Releasing blocked stock debits inventory and credits clearing accounts. 4) Excise invoice posting debits and credits excise accounts. 5) Service entry debits an expense and credits a clearing account. 6) Invoice verification debits clearing accounts and credits payable and VAT. 7) Invoice verification of customs debits clearing accounts and credits payable. 8) Payment to a vendor debits payable and credits bank. 9) Payment

    Descrição original:

    P2P Accounting Entries

    Título original

    P2P Account Entries

    Direitos autorais

    © © All Rights Reserved

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    XLS, PDF, TXT ou leia online no Scribd

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    The document outlines the key accounting entries for a procure to pay cycle in 9 steps: 1) Goods receipt without quality check debits inventory and credits clearing accounts. 2) Goods receipt with quality check has no entry. 3) Releasing blocked stock debits inventory and credits clearing accounts. 4) Excise invoice posting debits and credits excise accounts. 5) Service entry debits an expense and credits a clearing account. 6) Invoice verification debits clearing accounts and credits payable and VAT. 7) Invoice verification of customs debits clearing accounts and credits payable. 8) Payment to a vendor debits payable and credits bank. 9) Payment

    Direitos autorais:

    © All Rights Reserved
    Baixe no formato XLS, PDF, TXT ou leia online no Scribd
    Sinalizar o conteúdo como inadequado
    27 visualizações4 páginas

    Sno Transaction T Code Other Info GL Account: Procurement To Pay Cycle Account Entries

    Enviado por

    Hemachandran Tiruvallur Kannappan
    The document outlines the key accounting entries for a procure to pay cycle in 9 steps: 1) Goods receipt without quality check debits inventory and credits clearing accounts. 2) Goods receipt with quality check has no entry. 3) Releasing blocked stock debits inventory and credits clearing accounts. 4) Excise invoice posting debits and credits excise accounts. 5) Service entry debits an expense and credits a clearing account. 6) Invoice verification debits clearing accounts and credits payable and VAT. 7) Invoice verification of customs debits clearing accounts and credits payable. 8) Payment to a vendor debits payable and credits bank. 9) Payment

    Direitos autorais:

    © All Rights Reserved
    Baixe no formato XLS, PDF, TXT ou leia online no Scribd
    Sinalizar o conteúdo como inadequado
    de 4

    Procurement to Pay Cycle Account Entries

    S No Transaction T Code
    Other
    Info
    GL
    Account
    Procure to Pay Cycle
    1 Goods Receipt without QA Check MIGO Mvt 101 202000
    106608
    106604
    106606
    2 Goods Receipt with QA Check MIGO Mvt 103
    3 Release GR Blocked Stock MIGO Mvt 105 202000
    106608
    106604
    106606
    402200
    4 Excise Invoice Posting J1IEX 208001
    208061
    208081
    208460
    5 Service Entry Sheet ML81N
    106608
    6 Invoice Verification - LIV MIRO / MIR7 106608
    208460
    205305
    106000
    7 Invoice Verification OF Custom duty /freight etc MIRO / MIR7 106606
    106604
    106000
    8 Payment to Vendor F-53 / F-58 106000
    103502
    9 Payment to Foreign Vendor F-53 / F-58 106000
    103502
    407901
    Accounting Entry Remarks
    Procure to Pay Cycle
    Dr. Inventory A/c Upto 202029
    Cr. GR/IR Clearing A/c
    Cr. Freight Clearing A/c If any. Same like to other Provision A/c
    Cr. Customs Duty Clearing A/c If any
    No Accounting Entry
    Dr. Inventory A/c Upto 202029
    Cr. GR/IR Clearing A/c
    Cr. Freight Clearing A/c If any. Same like to other Provision A/c
    Cr. Customs Duty Clearing A/c If any
    Dr/Cr Price Difference A/c If there is any change in price, between GR & IR
    Dr. CENVAT Input BED A/c Upto 208011
    Dr. CENVAT Input ECS A/c Upto 208071
    Dr. CENVAT Input SHE A/c Upto 208091
    Cr. CENVAT Input Clearing A/c
    Dr. Expense A/c
    Cr. GR/IR Clearing A/c
    Dr. GR/IR Clearing A/c
    Dr. Cenvat Input Clearing A/c
    Dr. VAT Receivable A/c
    Cr. Vendor A/c (Accounts Payable) Upto 106008
    Dr. Custom Duty Clearing A/c
    Dr. Frieght Clearing A/C
    Cr. Vendor A/c (Accounts Payable) Upto 106008
    Dr. Vendor A/c (Accounts Payable) Upto 106008
    Cr. Bank Account A/c
    Dr. Vendor A/c (Accounts Payable) Upto 106008
    Cr. Bank Account A/c
    Dr/Cr Exchange Fluctuation A/c

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