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Former Member

sap mm fico account entries with values

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

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  • Best Answer
    author's profile photo Former Member
    Former Member
    Posted on Nov 21, 2012 at 10:24 AM

    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.

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    • Former Member

      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

  • Posted on Nov 21, 2012 at 10:21 AM

    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

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  • author's profile photo Former Member
    Former Member
    Posted on Nov 23, 2012 at 09:52 AM

    It will loaded up on material cost.

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  • author's profile photo Former Member
    Former Member
    Posted on Nov 22, 2012 at 09:56 AM

    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

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