The goods receipt/ invoice receipt or popularly called GR/IR Clearing Account is a provision account and is posted whenever you receive goods that have not been invoiced yet or whenever you receive invoices for goods that have not been delivered yet.
In this activity, we define the adjustment numbers and target accounts for the automatic postings for the GR/IR clearing account.
Transfer postings have to be made at the balance sheet date to reflect the goods invoiced but not delivered and goods delivered but not invoiced.
The Transaction Code – F.19 analyzes the GR/IR clearing account and posts adjustments entries for outstanding amounts to adjustment accounts. It makes the offsetting entry to the account for goods delivered but not invoiced or to the account for goods invoiced but not delivered (Target account).
Following are the steps to configure GR/IR clearing account in SAP.
Noteworthy, all these accounts for GL Master will be the Balance sheet accounts. Following are the accounts that you need to create.
Also read: Master Data in SAP FICO
Next, you need to define the adjustment for GR/IR accounts.
IMG=> Financial Accounting (New)=> General Ledger Accounting (New)=> Periodic Processing=> Re-classify=> Define Adjustment Accounts for GR/IR clearing
2. Second, Double Click on the Group WRV as shown in the image.
3. Further, update the Chart of Accounts section.
4. Next, Press Back.
5. Now Double click here.
In this process, there are some End-user roles that they need to perform. These are:-
5. For PO # 4500023888, Process Invoice Tcode MIRO
Important to note:- The GR/IR balances are to be regrouped as a month-end activity. To do this regrouping, use Transaction Code- F.19
Here we have three options. I show below each one with its respective image.
In case the goods are received, the final output of all these configurations is the Adjustment account for GR/IR, which will look like this.
Also Read: Receivables Management in SAP HANA
In case GR/IR Invoice received but goods not received. the final output will look like the below.
The output for GR/IR that is shipped to the invoice will look as below.
Also Read: MM Closing Activities in SAP S/4HANA Finance
If you are a FICO consultant, you must know these adjustment entries. The Goods receipts/invoiced account is an important part of SAP FICO. Additionally, interviewers frequently ask questions on GR/IR. Moreover, there are high chances that in real projects, you need to do these adjustments. Thus, I recommend you to learn GR/IR regrouping deeply.
Watch Related Video: GR/IR Regrouping Video by Pradeep Hota
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