CENVAT utilization by Manual Journal Entry

[Former Member]

Hi All,

Can anybody explain me the process of cenvat utilization by passing Manual Journal Entry.

Please reply fast

Regards,

Abhishek

[Former Member · Accepted solution]

Hi Abhishek,

You may check these threads to see if they related to your question:

Thanks,

Gordon

[Former Member · Accepted solution]

Hi,

Thanks for your prompt reply. But I am not very sure in choosing Material Type as Raw Material or Finished Goods because we are utilizing CENVAT credit of Raw Material for Finished Goods....

please reply.

Thanks & Regards,

Abhishek

Edited by: Abhishek A on Sep 10, 2008 6:16 AM

Edited by: Abhishek A on Sep 12, 2008 2:34 PM

[Former Member · Accepted solution]

There are no clear cut to distinguish Raw Material and Finished Goods. Generally speaking, Raw Material is all material used for your production and Finished Goods are all products for you to sell.

Thanks,

Gordon

[Former Member · Accepted solution]

Hi Gordan,

But we utilize CENVAT credit of Raw Material for Finished Goods.

Regards,

Abhishek

[Former Member · Accepted solution]

There is an easy standard: if the item is a component in the BOM, it will be a good candidate for raw material. If this BOM component item can also be sold directly, it is up to you or any regulations to decide whether it belongs to raw material.

Thanks,

Gordon

[Former Member]

Please read the following document which explains answers to your questions

[https://websmp205.sap-ag.de/~sapdownload/011000358700006192062006E/IndiaLocalization_2005B.pdf]

Check page no. 29 which explains "Creating Opening Balances for PLA/ CENVAT"

Also have a look at the following Blog, Implementing SAP Business One for India Localization

[https://www.sdn.sap.com/irj/sdn/weblogs?blog=/cs/junior/view/wlg/10739]

Edited by: Sridharan T on Sep 8, 2008 11:14 AM