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  1. Vinodh Vijayaraghavan permalink

    I know these entries will be used predominantly in the manufacturing industry. but why is GR/IR getting credited? & can you also explain the accounting basics around GR/IR (I mean the way or manner in which the journal entries are passed for better understanding).

    • Naveen permalink

      GR/IR account is Offsetting account, no direct postings will be permitted to this account, we will maintain it as automatic postings.
      basically this account is used to track the good, when invoice is verified account will be zero.

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