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sap mm fico account entries with values

former_member1283074
Participant
0 Kudos

HI

kindly explain me SAP MM FICO financial entries of

(1) VAT

(2) CST

(3) Service tax

(4) Freight

(5) Packing and forwarding

with values eg

2. GR

Inventory Dr. 100

GR/IR Cr.  

Basic Excise duty Dr.

Cenvat Cr.

Kindly give example with values

reg

cns

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
0 Kudos

Hi,

This is very general question, can not give all the accounting entries in one go as diferent scenarious have different accounting entries From excise perspective some of the entreis are as below

~ For Domestic Procurement of Raw Material

           During GR

                                   Material Stock           Dr.

                                   GR/IR clearing                       Cr.

           During Excise Invoice Credit           

                                   Cenvat Account         Dr.

                                   Cenvat Clearing                    Cr.

           During Invoice Verification

                                   Cenvat Clearing        Dr.

                                   GR/IR Clearing          Dr.

                                   Vendor Payable                     Cr.

For Domestic proceurement of Capital Goods

           During GR

                                   Material Stock           Dr.

                                   GR/IR clearing                       Cr.

           During Excise Invoice Credit           

                                   Cenvat Account         Dr.      (50%)

                                   Cenvat On-hold         Dr.      (50%)

                                   Cenvat Clearing                    Cr.

           During Invoice Verification

                                   Cenvat Clearing        Dr.

                                   GR/IR Clearing          Dr.

                                   Vendor Payable                     Cr

Subsequent of Capital Goods

                                   Cenvat Account         Dr.      (50%)

                                   Cenvat On-hold                     Cr.      (50%)

For Import Procurement of Raw Material
                      

           During Customs Duty Clearing invoice

                                   Custom Clearing        Dr.

                                   Custom Payable                     Cr.

           During GR

                                   Material Stock           Dr.

                                   GR/IR clearing                       Cr.

           During Excise Invoice Credit           

                                   Cenvat Account         Dr.     

                                   Custom Clearing                    Cr.

           During Invoice Verification

                                   GR/IR Clearing          Dr.

                                   Vendor Payable                     Cr.

For Excise Duty Credit of Raw Material without PO
                      

                                   Cenvat Account         Dr.     

                                   Cenvat Clearing                    Cr. 

For Excise Duty Reversal through Excise JV
                      

                                   Cenvat Clearing        Dr.     

                                   Cenvat Account                     Cr.

former_member1283074
Participant
0 Kudos

kindly explain with values for Dr and Cr

former_member1283074
Participant
0 Kudos

Example                Material A - 100 Rs

                              Frieght  - 10 Rs (added to your Material Account)

     Packing and forwarding - 2 Rs (added to your Material Account)

                                   Total - 112

                         CST @ 2% on 112     -     2.24 Rs (Added to CST account Different GL)

                         VAT at 14% on 112     -     15.68  (Added to CST account Different GL)

how to do above scenario?

For Domestic Procurement of Raw Material

           During GR

                                   Material Stock           Dr.

                                   GR/IR clearing                       Cr.

                                   Freight                                      Cr.

                                    Packing and forwarding        Cr.

           During Excise Invoice Credit          

                                   Cenvat Account         Dr.

                                   Cenvat Clearing                    Cr.

           During Invoice Verification

                                   Cenvat Clearing        Dr.    

                                   GR/IR Clearing          Dr.

                                   Vendor Payable                     Cr

Answers (3)

Answers (3)

Former Member
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It will loaded up on material cost.

former_member1283074
Participant
0 Kudos

Thank you.

Former Member
0 Kudos

Material A - 100 Rs 

                              Frieght  - 10 Rs (added to your Material Account)

     Packing and forwarding - 2 Rs (added to your Material Account)

                                   Total - 112

                         CST @ 2% on 112     -     2.24 Rs (Added to CST account Different GL and added to material cost)

                         VAT at 14% on 112     -     15.68  (Added to CST account Different GL- Npot added to material cost)

how to do above scenario?

During GR   

                                   Material Stock                               Dr. 100

                                   GR/IR clearing                            Cr.- 112

                                   Freight                                           Dr.- 10

                                    Packing and forwarding             Dr- 2

.
 

           During Excise Invoice Credit  

      

                                   Cenvat Account                   Dr. 15.68

                                   Cenvat Clearing                    Cr. 15.68

           During Invoice Verification

                                   Cenvat Clearing                  Dr.    15.68

                                   GR/IR Clearing                    Dr.     112

                                   Vendor Payable                     Cr  127.68

former_member1283074
Participant
0 Kudos

thanks for your answer

what happens to

CST @ 2% on 112     -     2.24 Rs

reg

cns

Former Member
0 Kudos

Check the link

|http://sap-iq.blogspot.com/search/label/SAP%20MM

http://sap-iq.blogspot.in/2009/08/accounting-entries-related-to-mm.html

Example                Material A - 100 Rs

                              Frieght  - 10 Rs (added to your Material Account)

     Packing and forwarding - 2 Rs (added to your Material Account)

                                   Total - 112

                         CST @ 2% on 112     -     2.24 Rs (Added to CST account Different GL)

                         VAT at 14% on 112     -     15.68  (Added to CST account Different GL)

                        

At the Time of GR - Inventory Dr - 112 Rs

                                GR - IR Cr    - 112 Rs

At the time of Invoice     Vendor  Cr - 122.92 Rs

                                             CST Dr - 2.24 Rs

                                             VAT Dr - 15.68 Rs

                                            GR-IR Dr - 112 Rs

Thanks,

Shiva