Important Accounts for Invoice Verification 

The following accounts are particularly important for Invoice Verification:

Vendor Account

There is a separate account in the sub-ledger for each vendor that all amounts concerning this vendor are posted to. Making a posting to the vendor account is not the same as making a payment; payment is only made when the Financial Accounting department posts the vendor's payment to a bank account.

Stock Account

In the ERP system, there is no separate account for each material. Instead, different materials with similar features are grouped together in a common account (for example, raw materials: acids). The account relevant for a material is defined in the material master record when a material is created.

The system only posts to the stock account when a price difference occurs for an invoice.

For more information, see Posting Price Variances.

GR/IR Clearing Accounts

The GR/IR clearing account is an “intermediate” account between the stock account and the vendor account. At goods receipt, the net invoice amount expected is posted to the stock account. The offsetting entry is posted to the GR/IR clearing account. This posting is then cleared by an offsetting entry on the vendor account at invoice receipt.

For more information, see Postings at Goods Receipt and Invoice Receipt.

Tax Accounts

The system makes postings to special tax accounts when invoices include tax.

For more information, see Entering Tax Data.

Price Differences Accounts

Price differences have to be posted to a price differences account if price differences have occurred in an invoice and when invoices are posted net and no posting can be made to the stock account.

For more information, see Posting Price Variances or Example: Net Posting.

Cash Discount Clearing Account

When you post an invoice net, the cash discount amount is taken into account in the invoice, it reduces the value of the items; the offsetting posting is made to the cash discount clearing account, which is then cleared when payment is made.

For more information, see Example: Net Posting.

Freight Clearing Account

The stock account is debited with the planned delivery costs at goods receipt and the system makes the offsetting posting to a freight clearing account. This posting is then cleared by an offsetting entry to the vendor account at invoice receipt.

For more information, see Planned Delivery Costs.