Exice Duty Should be Posted To Sales Revenue Account

[Former Member]

Dear All,

Our customer wants all the excise duty to be posted to the sales revenu account.

So i have changed the accounting key to ERL corresponding to the Excise Condition types.Now all the Exicise Duty is flowing to the Sales revenue account.

Is that Correct?

And when i create excise invoice in J1IIN,what are the accouting document should be genereated and what should be debited and what should be credited.

Please Advice.

Regards,

Venugopal

[Former Member]

Hi,

If you want to post to sales revenue account then it is right.

But when you create Excise invoice at that time you have to clear these sales revenue account with the payable account.

But first check whether it happens and discuss with the clien about the same.

Thanks & regards,

PM

[Former Member]

Dear PM,

Thanks for your response...

When i checked the accounting document at the billing document level,the customer is debited and all the other duties is going to the sales revenu account.

And when i check the accouting document at the excise invoice,cenvat suspense a/c is debited say for example 8.24Rs and RG23A Cenvatinput BED 8 and other Educ Cess .16 and Higher Edu Cess .08 is getting credited.

Please advice me is this correct.

Thanks & Regards,

Venugopal

[Former Member]

Hi,

As per standard configuration entries are right.

But what client want?

Normally cenvat suspense is credited at the time of Billing document and these entry is nullify when excise invoice is created.

Plz discuss with client and make configuration as they want.

Thanks & regards,

PM

[Former Member]

Dear PM,

Please explain me,how should nullify at the time of excise invoive.

Regards

Venugopal

[Former Member]

Hi,

Nullify means the same GL will debited.

Thanks & Regards,

PM