GL accounts for offsetting entry to Initial Stock Upload?

[Former Member]

When we do initial stock upload using Mvt type 561,stock account gets debited & some GL accounts get credited.Now, what kind of accounts are used for offsetting against initial stock entry?

[former_member529134 · Accepted solution]

The offsetting entries (Credit) during the initial stock upload falls on

Transaction key GBB and General modifier BSA in OBYC.

The G/L will be similar to the material account and the head will be given as 'initial entry of stock' as to identify them easily, and it will be a balance sheet account.

The field status will be same as that of the material accounts.

Hope this helps

Regards

Gregory Mathews

[Former Member · Accepted solution]

Hi Gregory,

You are close to answering my query.When you say "the GL account will be similar to Material account",what exactly do you mean?

What are the characteristics of the account which get credited during initial stock upload?

Thanks,

Kaveri

[former_member629270]

Tx Key GBB and account modifier VBR in OBYC used for initial GR/GI

[youngsun_kwon]

Offsetting G/L Account would be 'Inventory-Initial Entry of Raw Material Balances (39911000)' or 'Inventory-Initial Entry of Finished Goods Balances (39912000)'. Characteristics: The Account type is 'B/S' and the Account group is 'Material management accounts'.

[former_member192897]

When you Upload Stock thru Initial Entry Movement type 561 the Following Entries will made :

Inventory Account will be Debited

Initial Inventory Clearing accounts will be Credits.

Note : The Postings will be done as per your GL accounts assignments.

[Former Member]

Actually I want to know what kind of account will be used for initial inventory clearing...In other words what are the characteristics of such an account? I have not been able to explain to the user about the kind of account to be created.

Thanks,

Kaveri

[Former Member]

If you are using IDES, then Go to OBYC trxn and check the GL Accounts for Chart of Account for TE Key GBB-"BSA"..

and go to FS00 & check whether the GL Accounts