9/17/2014 CIN-FI Entries - ERP Financials - SCN Wiki

http://wiki.scn.sap.com/wiki/display/ERPFI/CIN-FI+Entries 1/4
Getting Started Newsletters Store
Search the Community


Welcome, Guest Login Register
Products Services & Support About SCN Downloads
Industries Training & Education Partnership Developer Center
Lines of Business University Alliances Events & Webinars Innovation
Added by Guest, last edited by Nathan Genez on May 14, 2012
ERP Financials / ERP Financials / Localization
CIN-FI Entries
Hi
This is for Country Version India, Financial Accounting Flow of Entries:
I. Procurement of Stock.
What should be my accounting entry in procurement?
For Domestic Procurement of Raw Material
During GR
Material Stock Dr.
GR/IR clearing Cr.
During Excise Invoice Credit
Cenvat Account Dr.
Cenvat Clearing Cr.
During Invoice Verification
Cenvat Clearing Dr.
GR/IR Clearing Dr.
Vendor Payable Cr.
For Domestic proceurement of Capital Goods
During GR
Material Stock Dr.
GR/IR clearing Cr.
During Excise Invoice Credit
Cenvat Account Dr. (50%)
Cenvat On-hold Dr. (50%)
Cenvat Clearing Cr.
During Invoice Verification
Cenvat Clearing Dr.
GR/IR Clearing Dr.
Vendor Payable Cr
Subsequent of Capital Goods
Cenvat Account Dr. (50%)
Cenvat On-hold Cr. (50%)
For Import Procurement of Raw Material

During Customs Duty Clearing invoice
Custom Clearing Dr.
Custom Payable Cr.
During GR
9/17/2014 CIN-FI Entries - ERP Financials - SCN Wiki
http://wiki.scn.sap.com/wiki/display/ERPFI/CIN-FI+Entries 2/4
Material Stock Dr.
GR/IR clearing Cr.
During Excise Invoice Credit
Cenvat Account Dr.
Custom Clearing Cr.
During Invoice Verification
GR/IR Clearing Dr.
Vendor Payable Cr.
For Excise Duty Credit of Raw Material without PO

Cenvat Account Dr.
Cenvat Clearing Cr.
For Excise Duty Reversal through Excise JV

Cenvat Clearing Dr.
Cenvat Account Cr.
What should be my accounting entry when the goods are issued through MM and excise invoice is created (J1IS & J1IV)?
During Excise Invoice Creation
Cenvat Suspense Account Dr.
Cenvat payable Cr.
For TR6C Challan
PLA Account Dr.
PLA on hold Account Cr.
During Fortnightly Utilization
Cenvat payable Dr.
Cenvat Account Cr.
PLA Account Cr.
Note: Cenvat Suspense Account should be cleared apprpiately using FI JV's.
What should be my accounting entry in subcontracting reversal / Recredit ?
For Subcontracting Challan Reversal
Cenvat Reversal Dr.
Cenvat Account Cr.
For Subcontracting Challan Recredit
Cenvat Account Dr.
Cenvat Reversal Cr.
What should be my accounting entry in SD ?
For Factory Sale

During Billing Document
Customer Account Dr.
Sales Account Cr.
Cenvat Suspense Account Cr.
During Excise Invoice Creation
Cenvat Suspense Account Dr.
Cenvat payable Cr.
For TR6C Challan
PLA Account Dr.
PLA on hold Account Cr.
During Fortnightly Utilization
Cenvat payable Dr.
Manage jollywallet
Great, you will receive 7.00% cash back when buying now on this site
About
Share
Powered by salus
9/17/2014 CIN-FI Entries - ERP Financials - SCN Wiki
http://wiki.scn.sap.com/wiki/display/ERPFI/CIN-FI+Entries 3/4
Cenvat Account Cr.
PLA Account Cr.
For Stock Transfer through SD

No Accounting entries for Proforma Billing Document

During Excise Invoice Creation
Cenvat Suspense Account Dr.
Cenvat payable Cr.
For TR6C Challan
PLA Account Dr.
PLA on hold Account Cr.
During Fortnightly Utilization
Cenvat payable Dr.
Cenvat Account Cr.
PLA Account Cr.
Note: Cenvat Suspense Account should be cleared apprpiately using FI JV's.
II. Central Excise
RG 1 - Production & Issues or Inputs form Production and Sales
RG 23A Part I - Link Stock Register, only Product details and Quantity details.
RG 23A Part II - Cenvat Credit on Incoming Materials & Duty Paybale on Outgoing Materials or on Sales (Monthly Register)
Excise PLA Register - TR 6 Challans
Form No. 5 Register - For Return Goods (Form D3 to be submitted to Excise Dept.,)
In SAP the Movement you save the MIGO Transaction, it automatically generate FI Document. It will create the following entry.
i). Inventory Raw Material A/c Dr
To GR/IR Clearing A/c Cr
In MIGO Transaction itself, you can post Excise by choosing capture and post Excise Invoice. The FI Document will be as follows.
ii). RG 23 A Basic Excise Duty A/c Dr
To Canvat Clearing A/c Cr
After doing MIGO, you execute MIRO. In this transaction also SAP will generate FI document automatically. The Entry will be as follows:
iii). GR/IR Clearing A/c Dr
Cenvat Clearing A/c Dr
VAT Setoff A/c Dr
To Vendor A/c Cr
III. Flow of Entries for a Normal Manufacturing Activity:
I. On Receipt of Raw Materials: (MIGO-movement type:101)
Dr. Inventory of Raw Materials 100
Dr. Inventory of Operating Supplies 20
Dr. Inventory of Packing Materials 10
Cr. GR/IR Clearing A/c 130
II. On Invoice Verification: (MIRO)
Dr. GR/IR Clearing A/c 130
Cr. Vendor A/c 130
III. On Goods Issued for Production: (MIGO-movement type:261)
Dr. Consumption of Raw Materials 100
Dr. Consumption of Operating Supplies 20
Cr. Inventory of Raw Materials 100
Cr. Inventory of Operating Supplies 20
IV. On Semi-Finished Goods Received form Process: (MIGO-movement type:101)
9/17/2014 CIN-FI Entries - ERP Financials - SCN Wiki
http://wiki.scn.sap.com/wiki/display/ERPFI/CIN-FI+Entries 4/4
Dr. Inventory of Semi-Finished Goods 120
Cr. Cost of Goods Manufactured (Semi-Finished Goods)120
V. On Issued of Semi-Finished Goods for further Processing: (MIGO-movement type:261)
Dr. Consumption of Semi-Finished Goods 120
Dr. Consumption of Packing Materials 10
Cr. Inventory of Semi-Finished Goods 120
Cr. Inventory of Packing Materials 10
VI. On Finished Goods Received from Process: (MIGO-movement type:101)
Dr. Inventoyr of Finished Goods 130
Cr. Cost of Goods Manufactured (Finished Goods) 130
VII. On Finished Goods Issued for Sales: (VL01N-movement type:601)
Dr. Cost of Goods Sold (Finished Goods) 130
Cr. Inventory of Finished Goods 130
VIII. On Raising Bill for the Customer: (VF01)
Dr. Customer A/c 145
Cr. Sales A/c 145
Thanks & Regards
Shammi
cin entries
Follow SCN
Contact Us SAP Help Portal
Privacy Terms of Use Legal Disclosure Copyright