501 movment type

Dear all,

In our client place, we are doing the backlog work. From PP side, they have to create a production order. For a production order, many materials are not in stock. So to have stock in storage, we have to procure the material or bring the material using the movement type 501. So when we do 501 movement type, i want to know what is the effect in financial accounting and what is the accouting entry?

Please suggest.

Thanks & Regards,

AR