GR/IR Clearing Account for Material & Asset

[Former Member]

Hi,

We want to maintain different GR/IR Clearing Account for Materials & Assets.

Pls. guide.

Regards,

[raghavendra_praveen · Accepted solution]

Hi

Maintain WRX in OBYC for different valuation classes (of materials). Then GR/IR clearing will hit this GL account.

Create one more line item in WRX without valuation class (name GL as Gr/IR clearing for assets), so if you receive assets it will go to this account.

Thanks

[Former Member · Accepted solution]

Thanks for the reply.

Correct me if I am wrong " the Materials without Valuation Class will go to the New WRX Gr/IR clearing for assets."

In this case, the Service Material received thru Service Entry Sheet will move in the same newly created Gr/IR clearing for assets.

Is there any modifier thur which we can diffentiate the Material, Asset & Service receipt?

Regards,

[raghavendra_praveen · Accepted solution]

Hi

for sevvice materials define account category reference and assign the valuation class in account determination. So with respect to valuation class you can define separate GR/IR account.

Thanks

[Former Member · Accepted solution]

Hi,

Thanks for the reply.

We are not maintaining Service Master here.

Regards,

[raghavendra_praveen · Accepted solution]

Hi

In case of asset - we define account determination in asset master which is like stock account for material. But if you use purchase order then for asset you use account assignment category as A - it means it is like account assigned purchase order. So all goods reciept credit on these POs will go to GR/IR account created without valuation class. Same time if you donot maintain service masters then goods receipt will go to same account (no valuation class). So either you need to define service materials or use same account for both.

Thanks

[Former Member · Accepted solution]

Hi Praveen,

Thanks for the reply. I have done the same thing & it's working.

I am just exploring other possibilty if we can differentiate the Service Receipt & Asset Receipt separetely using some modifier.

Regards,