Purpose of MR11
What is purpose of using transaction code MR11?
Using MR11, you can clear the discrepancies between GR and or IR relating to particular purchase orders. When you clear it, additional postings will be generated by the system in order to clear GRIR account.
For Example,
you have a goods receipt for a quantity of 110. Thereafter you got the invoice receipt for a quantity of 100 only. If you go to MR11, it will show the difference of quantity of 10.
However, you have the information that you will not receive the remaining quantity of 10. Thus you need to cancel the goods receipt of quantity of 10 through using transaction: MR11.
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Foreign Exchange Revaluation Process
This refers to the process of updating exchange rates and performing foreign currency revaluation.
Common Business Requirement
All the foreign currency transactions in the current assets (except stock) and current liabilities have to be revaluated based on the current exchange rates. The revaluation has to be done frequently (e.g., monthly) for countries with significant exchange rate fluctuations whereas the countries with little or no fluctuations will choose not to revaluate the balances or revaluate it less frequently (e.g., quarterly).
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SAP Month End Closing Activities
What are the period end activities in SAP FICO?
Here are month end closing activities need to be accomplished at end of month:
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GR/IR Account Maintenance Process
This refers to the process of posting period-end adjustments relating to stock-in-transit and provision for vendor.
Common Business Requirement
Goods and invoices are not always received at the same time. There is a need to track the accounts. At the time of goods receipt, the GR/IR account is credited and at the time of invoice receipt this account is debited.
AP/AR reclassification should be carried out after GR/IR account maintenance has been completed.
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Maintain GR/IR Clearing Account (MR11)
Overview
A discrepancy occurred between Goods Receipt (GR) and Invoice Receipt (IR). This needs to be cleared.
Examples of situations where this occurs are:
- If the goods have been received, the vendor hasn’t invoiced for the goods and won’t be invoicing (for example, the vendor has gone out of business). Use MR11
- An invoice with reference to a purchase order was paid through accounts payable FI instead of procurement. Use MR11
- The goods were received and sent back to the vendor for poor quality. The vendor was accidentally paid and we will not be reimbursed due to bankruptcy of the vendor. Use MR11
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Clear GL Account Process
This refers to the process of clearing GL accounts using both automatic clearing program as well as manual clearing.
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