501 movment type

[Former Member]

Dear all,

I have uploaded the open stock as on 31.03.2008. Now the client wants to create a production order. While doing so, some materials are showing in the missing parts. So what we planned is taking the materials through 501 movment type. That time the entry is as follows:

Stock a/c dr

To Consumption a/c cr.

Is the entry correct? Is this process correct?

Please suggest.

Thanks & Regards,

AR

[Former Member]

Hi

501 Goods receipt without purchase order - unrestricted-use stock

This movement type is used for deliveries from vendors that are not based on a purchase order. Invoice verification is not possible for these goods receipts.

For a goods receipt for purchase order ( 101), the receipt of returnable transport packaging can be entered using movement type 501 and special stock indicator M.

Possible special stock indicators:

E, K, M, Q

Regards

Ram

[former_member192897]

When you do Initial Upload thru MB1C 561 Movement type the Follwing Entries wii made :

Stock Inventory A/c Debit

Initial inventory Clearing A/c Credit

When you do Goods Receipt Without Purchase Order using 501 Movement type the Follwing Entries wii made :

Stock A/c Debit

Consumption A/c Credit ( It Depends on you GL account)

So in your Case Entries are Correct.

Regards,

Ashok

[pankaj_singh9]

Hi,

During 501 Movement, following entry appears;

(BSX) Stock Account - Dr

(GBB-ZOB) Consumption Account - Cr (Here you can use any GL as per your requirement, which may help you in reporting purpose)

[Former Member]

Hi,

The Standard entry for 501 will be Dr. Inventory and credit Adjustment Account.

If you want to show consumption against the order, you need to do a 261 for the Production Order which will pass a Cr entry to Inventory and Dr. to consumption.

This will need to be done post 501

Regards

Merwyn