on 09-05-2008 10:13 AM
Hi,
I have did po and migo (101 mov type), later i have returned the material using 122 mov type and did J1IS refering the return doc number. I didn't post miro. i.e didn't get the vendor invoice.
In this case, shall i need to use credit memo? pls give ur inputs.
No Need to Raise any Credit Memos.
Credit Memos are to be Raised if you have done Payment befor Return deliveries.
Regards,
Ashok
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Hi,
It totally depends on the Business Requirement.
In case if vendor is supplying fresh material for the materials returned by you then it is not necessary to create Credit Memo.
And in case if vendor is not supplying fresh material and you have already paid him for the materials purchased so you have to create a credit memo and debit the vendor by that much material value and get back your money from him, otherwise you will be in loss.
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hi
u have to do credit memo if u have done payment
check following process
1. MIGO - Return delivery > Material Document (Here refer GR doc, system will determine mvmt type "122" automatically, select Stock type as "Blocked Stock" under Where tab)
2. J1IS - Excise Invoice Other Movements
Here click on u201Ccreateu201D button to create an outgoing excise invoice and reverse the CENVAT Amount.
Here put all details as below and Press u201CEnteru201D.
Ref.doc. type - MATD, Doc Number - Material document No of 122 mvmt, Doc Year, Series Group, Excise Group, Vendor
Here check BED, ECS and SECess values to be reversed and click on u201CSaveu201D button to post the excise invoice.
3. J1IV - Post and Print Outgoing Excise Invoice.
4. MIRO - Credit memo w.r.t. Original PO.
accounting entries are as follows
At the time of Vendor Return (MIGO);
Stock A/c - Cr
GR/IR Clearing A/c - Dr
Excise Invoice for Vendor Return (J1IS & J1IV);
CENVAT Receivable A/c - Cr
CENVAT Clearing A/c - Dr
At the time of Credit Memo (MIRO);
Vendor A/c - Dr
GR/IR Clearing A/c - Cr
CENVAT Clearing A/c - Cr
regards
kunal
award if helpful
Edited by: kunal ingale on Sep 5, 2008 11:18 AM
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no
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