![]() ![]() On foreign vendor invoice is arrived received which is actually a C& F or other than the charges of port ,customs & clearings which are the local invoices will be catered through condition types on PO and then call them at the time of MIRO.Īccounting Entry for Invoiced Received in SAP Now, let’s take an example of import Purchase Order to understand the process of stock in transit where ownership is transferred to the buyer as soon as the shipment depart from the seller sideĬreation date for purchase order is for 85 Quantity PO is booked with the C& F amount and known planned & delivery costs. ![]() GR/IR would be the reconciling account and current asset account would be the targeted account.Adjustment a/c should be a balance sheet.GNB (Liability) A/c should be from liability side.BNG Stock in transit account (invoiced but not yet delivered) should be from the head of current assets or from Inventories b/c stock in transit is the part of inventory.Clearing GL in WRX key are also used in regrouping and reclassification process and it should be open item manage else the running of the process will exclude the GLs.System club all the Un-delivered goods and Un-Delivered Invoices in one adjusting clearing GL from all the clearing GLs when execute the process of Regrouping/Reclassification. Clearing GL accounts is to be mapped in WRX key in MM which is same for MIGO and MIRO.All vendors’ liability is recorded with reference to Purchase Order.All condition types are mapped on Purchase Order.Clearing GLs are used in Regrouping and Reclassification process plus one adjustment a/c is also created from the group of clearing accounts.Similar to that GNB is for the recording of liabilities įollowing points should be taken care for mapping GL accounts and process ![]() In standard we use three GLs to perform the process for BNG ![]() On the beginning of the next month user reverse the entry. To meet the requirement of audit under the head of current assets (b/s) the user will pass the above entry at the end of the month as it is the part of period closing activity. Stock in transit refers to material and other types of inventory that have left the shipping port of the seller, but not yet reached to the buyer. To record the STOCK IN TRANSIT transactions as period end activity closing entry is made and at start of next month reversal of the same entry is recorded in the system The topic of the Stock in Transit is highly valuable especially in the business environment where import transactions occur and business needs to record these tractions, SAP GR/IR functionality provides solid basis to design the solution to cater the business requirement accordingly. ![]()
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