What Is Meant By Gr/ir Clearance Account?

1.	What Is Meant By Gr/ir Clearance Account?
Answer» GR/IR is the intermediate account. ENTRIES are DEBITING and crediting at the time of GRN and Invoice verification... At the time of GRN entry is debit from GR/IR CLEARING account and in MIRO entry is crediting from the account GR/IR is the intermediate account. Entries are debiting and crediting at the time of GRN and Invoice verification... At the time of GRN entry is debit from GR/IR clearing account and in MIRO entry is crediting from the account

Answer»

GR/IR is the intermediate account.

ENTRIES are DEBITING and crediting at the time of GRN and Invoice verification...

At the time of GRN entry is debit from GR/IR CLEARING account and in MIRO entry is crediting from the account

GR/IR is the intermediate account.

Entries are debiting and crediting at the time of GRN and Invoice verification...

At the time of GRN entry is debit from GR/IR clearing account and in MIRO entry is crediting from the account

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