Dear Expert,
Can someone clarify my doubt regarding GR and IR related problem???
Issue is:-Service PO made 100/- INR and down payment against PO is 60/- then GR amount 100/- but IR is 60/- which is down payment.
So GR entry is...... Stock or expense a/c DR 100/-
To GR/IR a/c CR 100/-
IR entry is............. GR/IR a/c DR 100/-
To Vendor A/c 60/-
To Expense or service control a/c 40/-
then when next invoice will come for 40/- then the entry will be
Expense or service control a/c DR 40/-
To Vendor A/c CR 40/-.
Is it the right process? Or each and every time GR/IR account will be knock off against the GR and IR?
Actualy one senior user asked me..Please clarify my doubt.
![]()
Cheers,
Joy
