on 02-18-2012 7:00 AM
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
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
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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
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
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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
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