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Former Member
Jun 25, 2009 at 11:41 AM

Accounting Effect

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The following procedure is used to capture cenvat through EWPO. We want to know what are the accounting effect s at the time of MIRO & Migo

1 Step: Purchase order creation with Tax code As Zero

2 Step : Preparation of Material receipt MIGO without the Excise Invoice Capture

3 Step : In Transaction J1iex & by selecting the Option EWPO & Material Document No. The details of Excise details are entered manually & posted. Now I want to know what should be the Accounting entries at this stage & when I do the MIRO (Invoice verification) what are a/c effects.

The accounting effects that is taking place after capturing with Excise transaction type EWPO are as follows.

G/L Account Description Dr/Cr Amount

300403 Cenvat Input H cess Dr 8.00

300401 Cenvat Input BED Dr 80.00

300402 Cenvat Input cess Dr 16.00

300411 Cenvat clearing Cr 104.00

Please guide me as to how we should go ahead. As there is no any FICO consultant over here.

Thanks & Regards

Sudhir