clearing accounts

[Former Member]

hello Gurus,

can u tell me what clearing g/l accounts r needed at the time purchasing i.e while creating MIGO and MIRO. And plz explain me how are they are treated in the P&L and there offsetting activities as well.

Best regards

sayeed

[Former Member · Accepted solution]

Hi,

1.GR/IR B/S account

2. Raw material inventory B/S account

3.Simi finished/Finished materials inventory B/S account.

these are clearing accounts.

but you have to create P&L accounts .

1.Raw materials consumption

2.Simi finished/Finished materials consumption.

Thanks,

Rau

[Former Member · Accepted solution]

Thnx bro

Hope this will help me alot. Thnx alot

[Former Member]

hi all gurus

Can any1 pl tell tell me how 2 clear cenvat & ed clearing a/c.

Reg,

anant