Regarding Insurance Value

[Former Member]

Dear all,

My client required one report regarding insurance, in this case the insurance is covered by us and not by customer,in that case customer pay insurance to us.

In that case my client take insurance of 1 lakh rs against that they dispatch material, after dispatch they take one report in that the total sales value is debited from the total insurance value and remaining amount is shown there.

Also when there is another dispatch the value of sale is again debited and so on

so as to know the status of insurance.

plz send me the details about the same

Thx & Regards,

PM

[Lakshmipathi]

Dear PM

I am sorry to say this - you have totally confused me with your comments

in this case the insurance is covered by us and not by customer,in that case customer pay insurance to us

What do you mean by "In this case" and "in that case". If you give the scenario clearly, probably, somebody will try to help you out.

thanks

G. Lakshmipathi

[Former Member]

Hi,

Sorry to Confuse you.

Forget about customer will pay.

Only i required a report in that my toatl sales value is debited from the total insurance value.

can is it possible with the help of Accrual

Plz send me some details about that.

Thx & Regards,

PM

[Lakshmipathi]

Dear PM

Yes it is possible. Normally, insurance on cargo would be some fixed percentage on the shipment value. So create a condition type in V/06 and maintain the calculation type as "Percentage" and condition category as "Insurance".

Create an acess sequence in V/07 and assign Table 307 (customer with Release status). Go to V/08 and assign this condition type in your pricing procedure.

Now go to VK11, give the condition type and maintain the customer codes in this.

So whenever you generate order for these customers, automatically the condition type for insurance will flow.

thanks

G. Lakshmipathi

[Former Member]

Hi,

Thanks for your reply.

but problem is : i am crate one invoice of rs 100.

My insurance policy is of rs 1000.

After my invoice is post to account i want one report that cotains all details of Customer & Invoice and also 100 rs is debited (Which is total sales value) from 1000 and i get balance of 900 rs for another dipatch or invoice.

for that can i use any GL so as my sales value will debited from that and also dosenot add in the total value again bcoz i want only copy the total sales value.

Plz send me some solution for the same.

Thx & Regards,

PM

[Lakshmipathi]

Dear PM

As for as insurance for shipments is concerned, you have to consider ONLY premium amount what you pay against each shipment and not the total amount paid. Ask your client what is the premium amount they are paying against each despatch.

You have to create condition type for the premium amount only.

thanks

G. Lakshmipathi