RE:[sap-acct] Excise refund received after capitalising asset

Posted by VidhyaDhar (User-friendly SAP FI Consultant)
on Jul 10 at 10:51 AM

How did you do the acquisition? Was it from financials or from MM (with Purchase Order)? In case you had created goods receipt note, then was it a valuated one or non-valuated?

Have you already accounted the vendor invoice with the inflated value ? or are you yet to account the vendor invoice?

What do you mean by refund of excise duty? Did you get a refund from statutory authorities or as a credit memo from the vendor?

More details are required, I suppose



---------------Original Message---------------
Sent: Saturday, July 09, 2011 10:21 AM
Subject: Excise refund received after capitalising asset

Dear All,

During the month of May -2011, we capitalsied asset called Ambulance
for Rs. 5,50,000/- (capitlisation date 31.March, 2011)

After two months we have received Excise refund of Rs. 55,000, which
was paid while buying Ambulance.

This Excise refund was credited to vendor account.

Now I have to Debit vendor and credit Asset account.

I have to reduce cost of Asset

I have not posted Depreciation on Books from April-11 onwards.
How to Proceed.... Please help.

best regards,
Manish Mahendra Sanghvi
98208 83148

Copyright © 2011 and message author. 4343 N. Scottsdale Road Suite 280, Scottsdale, AZ 85251
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