CIN accouting entry
Pls clarify me, how the a/cing entry will be proceed for the blw cases:
1- " I'm buying a rawmateial and later, did mat transfer (309) to fert mat type, now i'm selling this mat to my customer" .. in this case how to map the tax related areas i.e update registers and a/cing entries..
Vikas Mayekar replied
While doing material to material transfer - 309 movement, there will not be any CIN Accounting entry as such, that time only Inventory accounting entry will be generated based on material valuation class.
CIN accounting entries happen at the time of Goods Receipt of RM , which will be effected in RG23A part II as receivable, where as converting a Raw Mat to Finished Godos and selling it , it will have a CIN Accounting entry at the time of Excise Invoice creation of FG and which will hit Duty Payable accounts as well as will be considered in RG1 if material type in J1ID is F i.e. RG1.