Use of Purchase Accounts

[Former Member]

Hi,

Can any one explain me about use of Purchase Accounts??

Thanks,

Siva Kumar

[Former Member]

Hi,

In companies which manage a continuous stock system, it is now possible to use the Purchase Accounts Posting System.

This option includes the recording of expense accounts in journal entries created automatically due to purchasing documents which affect the inventory valuation: A/P Invoice (not based on a Goods Receipt PO), A/P Credit Memo, Goods Receipt PO and Goods Returns. (from SAP site)

hope it helps you.

Regards,

Sravan Kumar Pothu

[Former Member]

If we are not using purchase accounts posting system we can't track how much purchases we have made during this year.

We have to create a purchase offset a/c also

(a dummy a/c)

Credit will goes to this a/c directly while making the purchase related transactions.

while making grpo entry will be

stock Dr xxxx

Goods received not cleared a/c Cr xxx

purchase a/c dr xxxx

purchase offset a/c cr xxxx

Regards,

Suresh Kannan

Hopes this will help you.Close this thread if helpful & reward points.

Edited by: Suresh Kannan on Feb 23, 2008 9:22 PM