What is GR/IR account in SAP?

04/06/2020 Off By fintralead

The Goods Receipt/Invoice Receipt (GR/IR) account is used to post whenever goods received but not yet invoiced or invoices received before the goods have been received.

Potential benefits of maintaining & monitoring GR/IR clearing account-

  • To keep the focus on unpaid liabilities with aging
  • Visibility of cases where invoices have been booked but material not yet received and vice-versa
  • Identify GR/IR discrepancies and communicate to the purchasing team for further action
  • Vendor behavior analysis

Entries related related to GR/IR in SAP

When goods received following entry has been passed

Inventory A/C …………………………………. Dr

To GR/IR Account…………………………….. Cr

At the time of booking vendor invoice

GR/IR Account…………………………………. Dr

To Vendor Account…………………………. Cr

At the time vendor payment

Vendor Account………………………………. Dr

To Bank Account…………………………….. Cr

https://answers.sap.com

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CategoryCorporate Finance & Accounting
TagsGR/IR Grir Journal entries for GRIR

About the author

Satyanarayana Dora is a senior professional who worked with different industries. He is a Chartered Accountant from India. He writes about leadership skills, recent updates, career progress path etc...