How to configure Automatic Clearing of GR/IR? 

by: Narasimham

Follow the following steps:

Define Adjustment accounts for GR/IR Clearing

Path: IMG-F/A-G/L/A-Business Transactions-Closing-Regrouping-Define adjustment accounts for GR/IR clearing

Double Click on BNG Transaction Key

System will ask you chart of accounts update it.

Again update the following

Reconciliation account: Enter the GL code  i.e. GR/IR clearing account (Goods Receipt/Invoice receipt)
Adjustment account: Enter the GL code  i.e. GR/IR correction account
Targ. Acct : Enter the GL code  GR/IR Invoiced but goods not yet received

Again Double click on GNB Transaction Key

System will ask you chart of accounts update it.

Update the following: -
Reconciliation account: Enter the GL code  i.e. GR/IR clearing account (Goods Receipt/Invoice receipt)
Adjustment account: Enter the GL code  i.e. GR/IR correction account
Targ. Acct : Enter the GL code  GR/IR Shipped not invoiced

Do the above steps.

The goods receipt/invoice receipt (GR/IR) clearing account is a provision account, and is posted to whenever you receive goods that have not been invoiced yet or whenever you receive invoices for goods that have not been delivered yet.

In this activity you define the numbers of the adjustment and target accounts for the automatic postings for the GR/IR clearing account.

Transfer postings have to be made at the balance sheet date to reflect the goods invoiced but not delivered and the goods delivered but not invoiced.

Transaction code F.19 analyzes the GR/IR clearing account and posts adjustments entries for outstanding amounts to adjustment accounts. It makes the offsetting entry to the account for goods delivered but not invoiced or to the account for goods invoiced but not delivered (target account).

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