Step 1 Goods received from vendor ( MM and FI ) Entry will be Raw Material Inventory a/c Dr. GR/IR clearing a/c Cr.

Step 2 Invoice verification and quality assurance (FI and MM) Entry will be GR/IR clearing a/c Dr Vendor a/c Cr Step 3 Goods issued for consumption(MM, FI and PP) Entry will be Raw material consumption a/c Dr Raw material inventory account Cr Step 4 Production receipt( FI, MM & PP) Entry will be Finished goods inventory a/c Dr Change in stock Cr Step 5 Finished goods delivered to customer(MM, SD & FI) Entry will be Change in stock Dr Finished goods inventory a/c Cr Step 6 Raising invoice on customers( SD & FI) Customers a/c Dr Sales a/c Cr

By Ravi Ranjan Singh

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