sap mm fico account entries with values

[former_member1283074]

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

[Former Member · Accepted solution]

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 · Accepted solution]

kindly explain with values for Dr and Cr

[former_member1283074 · Accepted solution]

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