Acct postings

[Former Member]

Hello,

please help me getting the answer the qustions that what are the accounts get posted after doing PGI, Invoicing & after Excise invoice in CIN.

request you all to help me getting this information.

Thanks. Nitin

nitin.mogre@indiatimes.com

[Former Member · Accepted solution]

Hi Nitin,

One will the material postings in inventory.

Other will be the COGS posting

When you post goods issue for an outbound delivery, the following functions are carried out on the basis of the goods issue document:

Warehouse stock of the material is reduced by the delivery quantity

Value changes are posted to the balance sheet account in inventory accounting

Requirements are reduced by the delivery quantity

The serial number status is updated

Goods issue posting is automatically recorded in the document flow

Stock determination is executed for the vendor's consignment stock

A work list for the proof of delivery is generated

A work list for the proof of delivery is generated.

After Billing

Profitability analysis COPA

Account receivables

GL a/c

Reward points pls.

Regards,

Govind.

[Former Member]

hi,

during PGI - cost of goods sold is inc and stock valuation is decreased.

after invoice--customer is debited and all the condtions having g/l accnts are credited. once the payment is entered the reverse entires are passed.

Excise- after excise invoice the registers are debited and cenvat accnts are credited once u do the utilisation then the reverse entries are passed.

saurabh