Accounts being posted as a result of GR

When goods are received, the system debits the stock account and posts the offsetting entry to the GR/IR clearing account.

·         In case of MAP, the stock account is posted with the value of the net order price multiplied by the quantity of the goods received.

·         And in case of standard price, the stock account is posted with the value of the standard price multiplied by the quantity of goods received. The system posts the difference to an account for Expenses or Revenue from Price Differences.

When the invoice is posted the GR/IR clearing account is cleared and the vendor account is credited.