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author's profile photo Former Member
Former Member

MIRO - DUTY and Handling Charges

Hi there,

I have to do an invoice receipt against an import PO.

I have duties and handling changes which were not originally mentioned in the PO.

GR is done

How do i account for this information (duty and handling charges) in the Invoice Receipt MIRO transaction?

This information needs to be captured in the respective accrual accounts.

If my PO is for 100 USD, my invoice total amount would be 100 which will result in the following accounting entries

DR - GR/IR = 100

CR - Vendor = - 100

I should also have the following entries,

CR Duty Accrual - 20 USD

CR Handling Charge Accrual - 30 USD

How do i handle this scenario?

Thanks

Bala

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  • author's profile photo Former Member
    Former Member
    Posted on Jul 08, 2008 at 06:43 PM

    Either you have to reverse the invoice than GR and update the PO for this charges or make the direct entry to the G/L account for those accrual conditions

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    • Former Member Former Member

      Hi,

      If the question is pertaining to import duties in India use the following:

      JCV1-IN CVD

      JECV-Edu Cess on CVD

      J1CV-Sec ECess On CVD

      JCDB-Basic customs Duty

      JEDB-ECess Basic Customs

      JSDB-Sec ECess on BCD

      JCDS-IN Special customs

      JADC-Additional Duty

      These all import conditions are delivery cost in nature and need to have accural key.

      Only the planned conditions means that are part of PO get settled in GR and LIV, rest becomes the unplanned in nature.

      Delivery cost conditions cannot entered once the PO is created.

      Regards

      Rajesh

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