Accounting entry for 'V' price materials

Hi,
I know that for Finished and Semi Finished we use 'S' - Standard price and 'V' for Raw materials.
When new cost updated to the existing finished materials at that time price difference account will come into picture, if any price change occurs.
But if we mainated 'V' for Semi finished and finished, if any cost updated and price changes, what will be the accountiny entry.
Thanks
Sateesh

closed

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Accounting Entries for Materials Return from Production Order

Dear Gurus,
I have a scenario here that a raw material, valuated at moving average = 151 and qty = 100, was issued to a production order last month. Due to some issue the order was not completed for a while and 93 qty was consumed for the order and because the remaining 7 were excess they were returned to the storage location. By that time the MOV had changed from 151 to 185 and the 7 qty was returned not at 151 (which would be correct) but at 185. This is a wrong accounting entry as it is showing an under consumption for the order.
Anyone have an idea why the system is doing this because the material should be returned on the price it was issued at so that the accounting entries are knocked off (The accounting entries for return deliveries to vendors are of the same price that they are recieved no matter how ever long a period they are returned). How do we stop the system from doing so and if it cannot be done what is the solution to the scenario.
Regards,

The normal entires are as follows (depending on your configuration);
1) Goods issue;
Credit inventory and debit COGS;
2) Billing document;
Debit customer account credit sales accounts;
3) Payment;
Credit customer account and debit cash/ checking account
pls assign points if helpful as a way to say thanks.

Accounting Entry for Material has Standard Price

Hi,
If Material has standard price option, what is the accounting entry for the time of Direct Goods Receipt and from the production.
Material Value is : Rs. 100/-
Purchased value is : 90/-
from production : 110/-
Thanks in advance

Hi,
In STO, material posting with price valuated from issuing plant price. In your case, the transportation cost, you can capture to separate G/L account and pay to transport vendor.(In STO , one plant is vendor and another plant is customer, so a third party vendor involved for material transfer)
OR else use separate own Custom Condition Type with Special Condition Category instead of condition type P101 which have Condition Category "G", only responsible to pick the internal price
Regards,
Biju K

Accounting Entry for Depot Excise Invoice

Hi Gurus
We make a STO from factory to depot. I have posted the depot excise invoice via J1IJ but Im unable to see the accounting entry for the excise invoice..
Im able to see the acounting entry for excise invoice for factory sales thru J1IIN..
Pls advise
Rgds..Vinz

Hi Vinz,
I would like to explore more for ur info.
When u create Excise invoice at Factory Using J1iin, accounting entries flow to the system. When u transfer it to Depot, u credit the Excise amount using MIRO and post it to RG23D ( Depot Register)
The value of the excise for which u have taken credit from ur factory would be passed on to customer now.
If you notice carefully, when u take credit of Excise entry in RG23d No accounting entry flows in the system, only value & qty gets updated to Register.
Generally, while deciding the selling price from depot u consider Basic price + Excise duty. since u are passing on the excise benefit to customer, using proforma excise invoice (transaction J1IJ)
So there is no wuestion of accounting entries.
Hey CIN Gurus.. correct me if i am haveing any misconcepts regarding this.
Hope this is clear to you now..
Reward if helpful..

How to stop Accounting Entries for certain Movement Types

Hello,
We are using Movement Type 511 to record free of charge receipts from vendors. Still it is generating Accounting Entries with Standard Material Price.
Is there any way to stop Accounting Entries for 511 and other Movement Types, where external business partners are involved ?
I tried IMG Setting "Define Account Grouping for Movement Types", where I did not tick in the field "Value Updates". But it did not work.
I believe, Account Grouping settings at the level of combination of Plant and Material Type takes precedence. There I have ticked in the field "Value Updates". So even if create a new Movement Type, with no tick in the field "Value Updates", it creates Accounting Entries for free of charge receipts from vendors.
Is there any way to stop any accounting entries in such cases ?
Basically I want 311-like movement type, but where external business partners are involved.
Thanks and Regards

Hello,
Thanks to you all for your quick reply.
I created a new Movement Type - copied it from 511 and made the changes as per your suggestions - disabled field "Value Update" in "Update Control / WM Movement Types".
Using MIGO when I try to receive the material, it gives me error "Update Control of Movement Type is Incorrect"
Any reason for this error ? I have disabled even "Check Account Assignment" in Account Grouping
Thanks and Regards

Accounting entry for MFBF

Dear Guru,
When we are doing MFBF ,GI accounting entry is getting generated but the GR accounting entry for mvt type 131 is not
getting generated instead its going for mvt type 571.
Thanks in advance.

Hi Kamala,
In the case of sell in the above example, Dr forex postiion account with 100$, but it is essentially Eur 94 and the corresponding amount in local currency which is USD in your case. If at all it happens that you are selling EUR at the market rate itself such that your amount in local currency for EUR sale and the amount in USD for Buy are same, then there will no gain/loss.
But essentially your contract price will be different than the prevailing market price. In that case there will be gain or loss posted.
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Ravi

Accounting Entry for Outgoing Payment

Dear experts,
I am currently doing PLD for outgoing payment. Just want to know how I can include in the disbursement voucher I am doing the accounting entries for this., Example:
Accounts Payable (Control Account) 20,000.00
Cash in Bank MBTC (GL account of the chosen Bank account) 20,000.00
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Sandra

You may check this thread to have a reference:
Re: Branch Code in a bank transfer summary report
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Gordon

Wrong Accounting Entry for Rejection Excise Invoice through J1IS

Dear Experts,
When we are doing Rejection of Excise Invoice through J1IS, a wrong accounting entry is getting generated by system.
Where can I check the settings for Accounting Entry for Rejection Excise Invoice?
Thanks & Regards,
Reshma

Generally Excise Invoice for other invoice posting will be done through J1IV after creating Excise Invoice for other Movements in J1IS.
If Automatic Posting is activated against your excise group then you need not again to post J1IV. It happens along with J1IS.
By the by how you are returning Excisable goods through Return delivery with Original invoice 122 or through Return Purchase order 161 Movement type.
Have you entered Excise Rates BED, ECS and SECS in J1IS?
Elaborate in detail.

Accounting Entries for Stockable Expense Item

Hi all
I have set an item as being expensed, inventoried, stockable and
transactable.
When I do a purchase order and a receipt on the item I get the accounting
transactions for the receipt part (debit receiving inv account and credit
inv AP accrual). However, there is no transaction on the deliver part
(normally debit the expense account and credit the receiving inv account).
If the item is set as non inventoried I get the accounting entries for
receipt and deliver.
I believe that we should be able to set an item as expense and stockable and
get the appropriate entries in Oracle Purchasing. What could be the problem?
Thank you.
Belinda Chavremootoo
null

Prakash,
I guess You can create a test Internal Order and check ., shouldnt take a long time

Accounting entries for Foreign currency revaluation..Accounting entries

Dear All,
Can any one tell me the Accounting entries for posting foreign currency and foreign currency revaluation..
Regards,
Suresh Patipati.
Edited by: suresh patipati on Feb 17, 2009 7:45 AM

Hi,
I will mention entries from Vendor point of view on that basis you can get the idea.
1. If there is a Unrealised loss.
Unrealised loss A/c...............Dr.
To Balance Sheet Readjustment A/c......Cr.
2. If there is a Unrealised Gain.
Balance Sheet Readjustment A/c......Dr.
To Unrealised Gain A/c.....................Cr.
3. If there is a Realised Loss.
Realised Loss A/c......Dr.
Vendor A/c.................Dr.
To Bank A/c.......................Cr.
4.If there is a Realised Gain.
Vendor A/c..........Dr.
To Bank A/c....................Cr.
To Realised Gain A/c.......Cr.
Best Regards,
Shridhar

Accounting Entries for Order to Cash

Hi,
Please give me the accounting entries for flow of Oder to cash. What are the entries from starting of SD Order to Fianl Customer Payment.
Thanks,
SRK

The normal entires are as follows (depending on your configuration);
1) Goods issue;
Credit inventory and debit COGS;
2) Billing document;
Debit customer account credit sales accounts;
3) Payment;
Credit customer account and debit cash/ checking account
pls assign points if helpful as a way to say thanks.

Accounting entries for Scontracting GR

HI,
I want to know the accounting entries details while doing a GR from a subcontracting vendor.
My subcontractor vendor provides a semi finished material ZZZ
Input material to the subcontractor vendor is Material A and B each one.
The cost of Material A is Rs. 5 and for B is Rs. 10.
The subcontrating charges is Rs. 2
Please provide details.
Regards,
R. Dillibabu.

check this one......will expalin every thing
http://www.sap-img.com/mm004.htm
Purchase Order
50 pieces of material ASSEM-1 were ordered. The subcontract price is $10/piece (total value = $500).
The following components were provided to the subcontractor:
15 kg   of the component COMP-1
   5 pcs of the component COMP-2
Good Receipt
The subcontractor delivers 50 pieces of material ASSEM-1.
At goods receipt a consumption posting for the components provided to the subcontractor is automatically made. It is valuated at the price from the material master record, for example:
15 kg of the component COMP-1 at $20/kg = $300
   5 pcs of the component COMP-2 at $30/pc = $150
The goods receipt is valuated with $950. This is calculated as follows:
the subcontract price      (50 pcs * $10/pc = $500) and
value of the components ($300 + $150).
Invoice Receipt
The vendor (subcontractor) sends you an invoice for the subcontract work. However, the price is $10.50/pc. The invoice is, therefore, 50 pieces ASSEM-1 * $10.50/pc = $525.
Posting Schema for Moving Average Price Control
In this example, the following postings are made at goods receipt and invoice receipt, if the material (end product) is valuated at moving average price:
Postings
      At goods receipt
      At invoice receipt
      Vendor account
              525 -
      GR/IR clearing account
              500 -
              500 +
      External service account
             500 +
               25 +
      Stock account: end product
             950 +
               25 +
      Stock change
             950 -
               25 -
      Stock account: comp.
              450 -
      Consumption account
             450 +

Accounting Entries for OSP PO if the Job Order is closed

Hi,
Would like to know the accounting entries generated if we receive and deliver a OSP PO if the Associated job is closed
thanks
Ravindra

hi,
To my knowledge if an open Po exist for a job then its not possible to close the job.
and if u hav closed by ur own customisation, then the PO item price reflects in purachase price variance account.

Wrong accounting entry for FRB2 (Freight Value)

Dear All,
Wrong accounting entry is happening for Freight value for a standard PO.
Rs. 300 was maintained in PO for this condition type, GR is done for full qty. but Accounting entry is Material cccount Rs. 156.24 to Freight clearing account.
Please help me on this issue
Regards
Prashant Atri

PO was created with 3 line items with each line item having freight condition type FRB2 - Freight value
For first line item it is Rs.200 for 1,008 quantity
For Second line item it is Rs.300 for 7,200 quantity
For Third line item it is Rs.300 for 2,604 quantity
GR was done for 3rd line item for the entire PO quantity 2604, but the frieght value is flowing only Rs. 156.24
1) Material is valuated at Standard Price.
It is Valuated at MAP
2)Condition type- FRB2- Rs 300 is entered at the Header Level and it is marked as a Group condition because of which it got apportioned to all the line items in the Purchase Order.
It is entered line itemwise with Rs.300 to the third particular line item and there is wrong flow of freight value for other line items too in GR.
Is Freight Condition type is a header condition and also check is it a group condition ( in t.code: M/06)
It is a header condition but not group condition and the values for frieght were given line item wise.
Need help to resolve this.
Edited by: prashantatri on Sep 2, 2011 12:14 PM
Edited by: prashantatri on Sep 2, 2011 12:15 PM

Very urgent...accounting entries for (excise duty)taxes and duties on sales

Hi Friends,
I'd appreciate if anyone would help me out the entries for excise duty and cenvat utilisation during sales.
During billing document:
Customer -- dr
To sales a/c --(cr)
To CENVAT SUSPENSE AC (CR).
Now could anyone tell me what kind of account is cenvat suspense account i.e., current asset or current liability.
Like wise can anyone help me out with the entries of excise invoice creation, TR6C Challan, Entries for Fortnightly utilization etc. that is all the entries until that particular sale is completed.
It would be greatly useful if you could even specify the kind of account is (for each account possibly) i.e, if the account is an expense or current asset or current liability.
If anyone possesses a document in regards to the same plz do forward the same to my mail id:
[email protected]
regards
kim.

Hi!!! Kim,
Entries related to Excise
When Availing of Cenvat Credit (T.Code J1IEX)
(GL A/Cs against ETT GRPO)
RG23A BED A/C Dr. (BS GL Current Assets)
RG23A E.Cess A/C Dr. (BS GL Current Assets)
RG23A S&H E.Cess A/C Dr. (BS GL Current Assets)
To Cenvat Clearing A/C (BS GL Current Liabilities)
RG23C BED A/C Dr. (BS GL Current Assets)
RG23C E.Cess A/C Dr. (BS GL Current Assets)
RG23C S&H E.Cess A/C Dr. (BS GL Current Assets)
To Cenvat Clearing A/C (BS GL Current Liabilities)
When Billing Document is created, Corresponding A/C Entry -
(GL A/Cs from VKOA & Tax Codes)
Customer A/C Dr. (Recon GL BS Current Assets)
To Sales A/C (P&L GL Income)
To BED. Recovered A/C / Cenvat Suspense A/C
To E.Cess Recovered A/C / Cenvat Suspense A/C
To S&H E.Cess Recovered A/C / Cenvat Suspense A/C
When BED / E.Cess / S&H E.Cess Recovered A/Cs are used -
These are P&L A/Cs & Grouped as Income A/Cs in FS Version.
When Cenvat Suspense A/C is used -
It is BS A/C & Grouped in Current Liabilties in FS Version
When Creation of Excise Invoice - (GL A/Cs against ETT - DLFC)
E.D Paid A/C / Cenvat Suspense A/C Dr.
To BED. Payable A/C (BS GL Current Liabilities)
To E.Cess Payable A/C (BS GL Current Liabilities)
To S&H E.cess Payable A/C (BS GL Current Liabilities)
When E.D. Paid A/C (P&L GL - Expenditure)
When Cenvat Suspense A/C (BS GL - Current Liabilities)
When TR6 Challan & Deposit of Cash into PLA A/C - (JV by FB50 / F-02)
PLA on Hold A/C Dr. (BS GL Current Assets)
To Cheque Issued A/C (BS GL Current Assets)
Updation of TR6 Challan in J1IH (GL A/Cs against ETT TR6)
PLA BED Dr. (BS GL Current Assets)
PLA E.Cess Dr. (BS GL Current Assets)
PLA S&H E.Cess Dr. (BS GL Current Assets)
To PLA on Hold A/C (BS GL Current Assets)
When Fortnightly Utilization (T.Code J2IUN)
Utilization from RG23A Registers / RG23 C Registers (GL A/Cs against ETT UTLZ)
BED. Payable A/C Dr. (BS GL Current Liabilities)
E.Cess Payable A/C Dr. (BS GL Current Liabilities)
S&H E.cess Payable A/C Dr. (BS GL Current Liabilities)
To RG 23A BED A/C Cr. (BS GL Current Assets)
To RG23A E.Cess A/C Cr. (BS GL Current Assets)
To RG23A S&H Ecess A/C Cr. (BS GL Current Assets)
BED. Payable A/C Dr. (BS GL Current Liabilities)
E.Cess Payable A/C Dr. (BS GL Current Liabilities)
S&H E.cess Payable A/C Dr. (BS GL Current Liabilities)
To RG 23C BED A/C Cr. (BS GL Current Assets)
To RG23C E.Cess A/C Cr. (BS GL Current Assets)
To RG23C S&H Ecess A/C Cr. (BS GL Current Assets)
Hope that this information will serve your purpose.
Please give necessary marks.
Regards...
Ameya D. Mohoni...

Accounting entry for 'V' price materials

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