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InterviewSolution
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Explain The Importance Of The Gr/ir Clearing Account? |
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Answer» GR/IR is an interim account. In legacy system if the goods are RECEIVED and the invoices is not received the provision is MADE, in SAP at the Goods receipt it PASSES the accounting entry debiting the Inventory and Crediting the GR/IR Account. Subsequently when an invoice is recd this GR/IR account is debited and the Vendor account is credited. That way till the time that the invoice is not received the GR/IR is shown as uncleared items. GR/IR is an interim account. In legacy system if the goods are received and the invoices is not received the provision is made, in SAP at the Goods receipt it passes the accounting entry debiting the Inventory and Crediting the GR/IR Account. Subsequently when an invoice is recd this GR/IR account is debited and the Vendor account is credited. That way till the time that the invoice is not received the GR/IR is shown as uncleared items. |
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