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Former Member
Sep 23, 2009 at 06:48 AM

Accounting Entry In Good receipt

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Dear All,

We have made import PO in INR and all the duty component we have added in PO like Custom duty, CVD etc. After this we are taking the receipt of material in GR Block stock through Movement type 103. Then we are taking the receipt from block to normal stock through movement type 105.

At time of Movement type 105 following accounting entry is coming:-

1000 1 89 S 323025 INVENTORIES - RM 1,729,488.89 1,729,488.89

1000 2 96 H 164340 GR/IR Clearing -RM 1,593,540.00- 1,593,540.00-

1000 3 96 H 164320 GR/IR Customs Clga/c 80,473.77- 80,473.77-

1000 4 96 H 164320 GR/IR Customs Clga/c 6,483.29- 6,483.29-

1000 5 96 H 164320 GR/IR Customs Clga/c 3,241.64- 3,241.64-

1000 6 50 H 164300 GR/IR Freight Clga/c 20,333.42- 20,333.42-

1000 7 50 H 164380 GR/IR CHA CLEARING 25,416.77- 25,416.77-

This is correct entry. But in the case rversal just opposite entry should come. In most of the cases opposite entry is coming but when we check reversal entry of above transaction through movement type 106 below entry was posted:

1000 1 99 H 323025 INVENTORIES - RM 1,418,604.75- 1,418,604.75-

1000 2 86 S 164340 GR/IR Clearing -RM 1,593,540.00 1,593,540.00

1000 3 86 S 164320 GR/IR Customs Clga/c 80,473.77 80,473.77

1000 4 96 H 164360 CVD Clearing a/c 228,833.84- 228,833.84-

1000 5 96 H 164360 CVD Clearing a/c 4,576.67- 4,576.67-

1000 6 96 H 164360 CVD Clearing a/c 2,288.34- 2,288.34-

1000 7 86 S 164320 GR/IR Customs Clga/c 6,483.29 6,483.29

1000 8 86 S 164320 GR/IR Customs Clga/c 3,241.64 3,241.64

1000 9 96 H 164360 CVD Clearing a/c 75,185.29- 75,185.29-

1000 10 40 S 164300 GR/IR Freight Clga/c 20,333.42 20,333.42

1000 11 40 S 164380 GR/IR CHA CLEARING 25,416.77 25,416.77

Just i want to know what could be posibilites due that entry has been posted. Because this is not correct entry.

Thanks in advance..................

Sanjay