Goods Receipt / Inventory Receipt (GR/IR) clearing account

GR/IR is an interim account. In the legacy system of a client if the goods are received and the invoice is not received the provision is made for the same.

In SAP at the Goods receipt stage, the system passes an accounting entry debiting the Inventory and crediting the GR/IR Account. Subsequently when an invoice is received 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.

Double click the Transaction Event Key    WRX

Select the Rules button

Verify Valuation Modify. and Valuation Class are checked.

Delete existing accounts, and enter new appropriate accounts according to the Valuation Classes you crested in the previous steps. Using the drop-down menu, choose your GR/IR account created earlier for each of the Valuation class accounts.

Click save.

Create Raw Material Inventory account

From SAP Easy Access: Accounting -> Financial Accounting -> General Ledger -> Master Records -> Individual Processing -> Centrally.

Enter account number 300000, then click on the create button.

Type/Description tab:

• Set account group to Materials Management accounts.
• Select balance sheet account.
• Short text is Raw Materials.
• Long text is Raw Materials Inventory.
  

Control Data tab:

• Currency: USD
  
• Select Only balances in local currency
  
• Select Line Item Display
  
• Sort key = 001
  

Create/Bank/Interest tab:

• Field Status Group = _ MMA
  
• Select Post Automatically only.
  

Click Save.