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what is meant by GR/IR clearance account?

  
Total Answers and Comments: 1 Last Update: September 18, 2007     Asked by: venkat 
  
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September 18, 2007 04:45:21   #1  
sachin kumar        

RE: what is meant by GR/IR clearance account?
GR/IR is the intermediate account.

Entries are debiting and crediting at the time of GRN and Invoice verification...

At the time of GRN entry is debit from GR/IR clearing account and in MIRO entry is crediting from the account

 
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