What are the a/c entries after Invoicing ang PGI.

[Former Member]

What are the a/c entries after Invoicing ang PGI.

[Former Member · Accepted solution]

hi,

at the time of PGI, the cost of the goods COGS is debited, it creates a controlling doc with respect to the material document. the material doc at PGI has an effect of quantity and value updation. The value updation is again an accounting entry, which takes place at the plant valuation level.

At invoice, the different conditino values mapped to GL's create accounting entries. The customer receivable account is also debited. The doc which picks after an invoice is RV which is a standard config for customer receivables.

regards

sadhu kishore

[Former Member]

Hi,

At the time of Goods Issue the entries are

Cost of Goods Sold Dr (Increase the Goods Sold value)

To Finish Goods A/c Cr. (Reduce the FG)

At the time of Billing

Customer Dr

To Sales Revenue A/c Cr

Rewards If it helps

Regards

Goutham

[reazuddin_md]

after PGI- below accounts will be updated

Inventory account a/c

Cost of Goods Sold a/c

after Invoice:

Sales revenues a/c

Sales dedcutions , rebates,t ax,frieght & taxe a/c's - if any

Customer a/c

Customer sales summary

Customer credit master sheet-F.35

[Former Member]

Hi Naveen,

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 worklist for the proof of delivery is generated

Regards

Sasikanth.Ch