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Former Member

MM

Dear all

can any one give detailed postings at the time of MIGO and MIRO regarding excisable item and freight

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3 Answers

  • Best Answer
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    Former Member
    Sep 01, 2008 at 06:11 AM

    Hi,

    Accounting enterie are

    1.In MIGO

    Raw Material Stock A/c Dr

    GR/IR Clearing A/c Cr

    2.In MIGO transaction itself, you can post Excise by choosing Capture and Post Excise Invoice. The entries are

    RG23A Basic Excise Duty A/c Dr

    RG23A Education Cess A/c Dr

    CENVAT Clearing A/c Cr

    3.After doing MIGO, you execute MIRO. The entry will be as follows:-

    GR/IR Clearing A/c Dr

    CENVAT Clearing A/c Dr

    VAT Setoff A/c Dr

    AP-Vendor A/c Cr

    Regards,

    Biju K

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  • Sep 01, 2008 at 06:03 AM

    hi

    plz check following site it will give u mov type wise accting

    www.sapstudymaterial.com

    The cycle flows like this;

    At the time of GR (MIGO);

    Stock A/c - Dr

    GR/IR Clearing A/c - Cr

    Excise Invoice Posting (J1IEX);

    CENVAT Receivable A/c - Dr

    CENVAT Clearing A/c - Cr

    At the time of LIV (MIRO);

    Vendor A/c - Cr

    GR/IR Clearing A/c - Dr

    CENVAT Clearing A/c - Dr

    At the time of Vendor Return (MIGO);

    Stock A/c - Cr

    GR/IR Clearing A/c - Dr

    Excise Invoice for Vendor Return (J1IS & J1IV);

    CENVAT Receivable A/c - Cr

    CENVAT Clearing A/c - Dr

    At the time of Credit Memo (MIRO);

    Vendor A/c - Dr

    GR/IR Clearing A/c - Cr

    CENVAT Clearing A/c - Cr

    Note: - If you debit CENVAT Suspense A/c at the time of J1IS/J1IV then at the time of Credit Memo processing (MIRO), you can not credit CENVAT Clearing A/c and Debit Vendor. The logic is very simple, at the end of whole cycle Clearing A/c should be nil, there should not be any balance.

    hope it clears

    regards

    kunal

    award if helpful

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    Former Member
    Sep 01, 2008 at 06:35 AM

    thanks for response

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