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J.E

Former Member
0 Kudos

Hi

What should be the Journal Entry when Goods Receipt / Goods Issue is created . Currently it is Debiting & Crediting Stock Account which i think is wrong.

Thanx

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
0 Kudos

Hi Sunny Brar,

Check This Link...

http://wiki.sdn.sap.com/wiki/display/ERPFI/InventoryAccountingJournal+Entries

1 Inventory Account -- Asset Drawer -- 210110

2 Inventory Offset Dec-Account -- Expense Drawer -- 210111

3 Inventory Offset Incr-Account -- Expense Drawer -- 210112

4 G/L Decreas Account -- Expense Drawer -- 210113

5 G/L Increase Account -- Expense Drawer -- 210114

Inventory Account & Inventory Offset Incr-Account must different

Thanks,

Srujal Patel

Edited by: Srujal Patel 77 on Feb 18, 2012 9:22 AM

Former Member
0 Kudos

Hi Srujal

IN expense account i have Cost of Goods Sold Account . I don't have Cost Centre

When the Goods are issued to a Cost Center or charged off against expenses the following transactions takes place:

Repairs and Maintenance - Dr

Inventory A/c - Cr

From above example I should have this scenario

Stock Account -


Cr

Cost Of Goods Sold -


Dr . Or in place of Cost of Goods Sold i should have another account

Thanx

Answers (1)

Answers (1)

Former Member
0 Kudos

SAP has passed right entry we can only change Inventory Increase A/C and Inventory Decrease A/C at the time of document creation

Goods Received

Stock Account will Debited

Inventory Increase A/C will Credited

Goods Issued

Stock Account will Created

Inventory Decrease A/C will Debited

Thanks

Manvendra Singh NIranjan

Former Member
0 Kudos

Hi

In G/L Account Determination

1 Inventory Account

2 Inventory Offset Dec-Account

3 Inventory Offset Incr-Account

4 G/L Decreas Account

5 G/L Increase Account

In 1-3 G/L Account is same . Stock Account , is it o.k or it should have different G/L Accounts.

Thanx

Former Member
0 Kudos

Hi Sunny......

Actually when you do Goods Receipt and Goods Issue.

Your Stock account will be Dr in case of GR and Cr. in case of GI and opposit account would be one of the Account from expense drawer.

Please check your GL Acccount Determination at Warehouse/Item Group/Item Level.

I think the problem must be here......

Regards,

Rahul