GRIR account -Why it is needed

***Shared as read***

**Shared as Read **

 

The GR/IR – the goods receipt/Invoice Receipt account is used to post to whenever goods that are not yet invoiced have been received or when invoices arrive before the delivery of goods.
During the time between the invoice being created and delivery of goods, there can be a timing difference, in order to accommodate this timing difference, a GR/IR account
is maintained temporarily to record the flow .
The GR/IR clearing account is usually cleared at the end of a period or fiscal year for those order items that no further goods receipts or invoices are expected for.

Choose Logistics- Materials Management - Logistics Invoice
Verification - GR/IR Account Maintenance -Maintain GR/IR
Clearing Account.

Enter data as required on this screen in the Document header
data frame. The Automatic clearance function is intended for processing
in the background .the individual purchase order items that have quantity
variances and match your selection are now listed. Select the order items that you want to clear.
Clear the GR/IR clearing account for the selected purchase orders by choosing List - Post clearing.
The offsetting entry to clear the GR/IR account is the same as the posting made when you enter an invoice for a purchase order.
The GR/IR account is cleared against the stock account, unless no stock coverage exists. If the material stock is smaller than the quantity to be cleared, only the actual stock quantity is debited or credited proportionally. The remaining amount is posted to a price difference account.
The offsetting entry is posted to a price difference account. The offsetting entry is made to the cost or fixed asset account shown in the account assignments in the purchase order.