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There is no need to do anything because the goods are not yours
until they are invoiced. Right now you have a claim against the
vendor for the money advanced and that is already booked so you need
nothing more. If you receive an invoice then you could book it
against a goods in transit account but normally you would book it
against GR/IR. Title does not pass until you pay the invoice, which
means offsetting the advance payment against it, and then you could
GR the goods to a GiT account.
What do your accountants say?
Rgds, Roy
mark as helpful.
----- Urspr?ngliche Nachricht -----
Von: email@removed
An:"Roy B"
Cc:
Gesendet:Thu, 22 Sep 2011 23:51:52 -0400
Betreff:[sap-acct] Advanced Payment and Goods in Transit
[1]
Posted by ayethanda [2]
on Sep 22 at 11:54 PM
Now we have made advanced payments to supplier.
But the goods have not been received yet.
For advanced payment- DR Supplier A/C
Cr Bank A/C
For receivable goods, should I prepare Goods In Transit a/c?
If I need GIT A/C, how should I pass journal entry?
Please kindly reply to me.
| | | ---------------Original Message---------------
From: aye thanda
Sent: Thursday, September 22, 2011 11:54 PM
Subject: Advanced Payment and Goods in Transit
Now we have made advanced payments to supplier.
But the goods have not been received yet.
For advanced payment- DR Supplier A/C
Cr Bank A/C
For receivable goods, should I prepare Goods In Transit a/c?
If I need GIT A/C, how should I pass journal entry?
Please kindly reply to me. |
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SAP Accounting Top Contributor
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