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Procurement of Asset w.r.t to Non Valuated Type

I need to procure an Asset for office, as Asset module has not been implemented, thus we are unable to create Asset Master in the system.

Right now we have tested by making Non-Vaulted Material as an Asset and procured the material against cost centre 'K' and below are accounting entries generated-

Accounting Entry at Goods Receipt

Office Equipment A/c DR

To SR/IR Clearing A/c CR

Accounting Entry in MIRO

SR/IR A/c DR

To Vendor A/c CR

My concern is are accounting entries correct and what are other process available to procure Asset in absence of Asset Module??

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1 Answer

  • Best Answer
    Aug 05, 2018 at 04:01 PM

    Hi,

    1) Non-valuated material means (material will not come to stock).

    2) account assignment cat. K means for cost center (not for asset).

    3) What is the meaning of SR/IR (is it Service Receipt clearing a/c ?)

    Check using tcode OBYC - WRX and check the nature of GL account - (what you are getting as SR/IR a/c).

    You are mentioning that, there is no asset module implemented - not possible for aac as "A" in PO.

    Account entries seems to be ok.

    regards,

    Bala.

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