Opening Balance in CENVAT Cr. Deferred Account (Capital Item

lally

Dear Folks,

we are going to update the opening balances for month of april - 01/04/09.
In this process un fortunately we updated the Opening Balance in CENVAT Cr. Deferred Account (Capital Item) updated wrongly.

that is actually we need to take Deferred Acount to update the opening balances,
but we have taken the Raw material cenvat credit Receivable account and post
then automatically G/L entries, RG 23 C part II updated.

After posting the General Journal, the program updated the RG 23 C Part II with the Total BED and Ecess for the next year.



After updating the RG 23 C Part II for Deferred amount, now we run the “Claim Deferred Excise” batch job to take the credit of the excise amount in the next year.



But system pass the entries to cenvat credit receivable account.





so now how to correct this one .



Please let me know.

ssingla

lally wrote:

Dear Folks,

we are going to update the opening balances for month of april - 01/04/09.
In this process un fortunately we updated the Opening Balance in CENVAT Cr. Deferred Account (Capital Item) updated wrongly.

that is actually we need to take Deferred Acount to update the opening balances,
but we have taken the Raw material cenvat credit Receivable account and post
then automatically G/L entries, RG 23 C part II updated.

After posting the General Journal, the program updated the RG 23 C Part II with the Total BED and Ecess for the next year.



After updating the RG 23 C Part II for Deferred amount, now we run the “Claim Deferred Excise” batch job to take the credit of the excise amount in the next year.



But system pass the entries to cenvat credit receivable account.





so now how to correct this one .



Please let me know.

Have you tried to find out why system is doing that. Switch on the debugger/code coverage and check how NAV picks the account and post the transaction. In case you are unable to do then post a JV for the transfer entry.

lally

Thanks sanddep sir,

may be i did not explain the mistek what i have done .

To update the opening balances in CENVAT Cr. Deferred A/C (Capital Item) for the month of April - 2009.

Two accoutns :
Cenvat Receival ble account = 8111
Cenvat deferred account = 8112

we created the general jopurnal .

Posting Date: 31/03/06 (Enter the date of purchase of capital item)
Document No.: G00034
Account No.: acutally here we need to take cenvat deferred account , by mistake we take Cenvat receibale account.
E.C.C. No.: BXBVS7543890
Description: CENVAT Cr. Deferred
Excise Charge: True
Deferred: True
BED Amount: 10000
Amount: 10000
Bal. Account Type:G/L Account
Bal. Account No.: yyyy
we post the journal


G/L entries updated .

cenvat receivable account = debit
suspense account = credit

Cenvat Receivable account = 10000( here actually it has to update in cenvat deffered account )

then system update the RG 23 C Part II with the Total BED for the next year.

After updating the RG 23 C Part II for Deferred amount, now we run the “Claim Deferred Excise” batch job to take the credit of the excise amount in the next year.
here the batch jopb posting date = 01/04/09.
then system post some entries agains.



G/L entry after running the batch job

cenvat receivable account = credit
suspense account = debit

After run the batch job that the program has not transferred the 10000 amount from Total BED for Next Year field to Total BED for Current Year field in RG 23 c part II

so please letknow how to correct his one.

I am expecting your valuable suggestion on this to solve the issue.

lally

Hi experts,



Throw some help on this .....................