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Former Member

Reconciliation Account

Sir,

What does Reconciliation Account mean

Thanking you

Juhi sinha

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    Former Member
    Nov 27, 2007 at 09:47 AM

    Dear Juhi

    In SAP you create your General ledger account of Income, expenses, assets and liabilities.However for each sunder debtors , sundry creditors, assets account we donot open separate GL account.

    Exactly what we do we create reconciliation account for debtors , creditors , assets account using FS00 and all vendor master created through fk01/xk01 are getting reconciliation account linked.

    hence reconcilation account are general ledger account opened as subledger account for self-balancing. To ensure self-balancing in Reconcilation account you cannot enter direct posting. In this way, SAP ensures a reconciliation between subledger and general ledger.

    Examples

    G/L account 150000 is defined as a reconciliation account. In the vendor account 5793, the G/L account 150000 is determined as a reconciliation account.

    In this way, all postings to vendor account 5793 are also posted automatically to the G/L account 150000. The G/L account itself is not designed for direct posting. In this way, a reconciliation between subledger and general ledger is always guaranteed.

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    thanks

    S AP

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    Former Member
    Nov 27, 2007 at 09:42 AM

    Reconciliation account can be defined as a summarisation GL account for the Vendor and Customer Sub-Ledgers.

    In the Vendor and Customer Master data we assign the Reconcilation account so that whatever transactions are posted in the subledgers and reflected in the reconcilation account.

    Regards

    V.Krishnan

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    • Former Member

      HI Juhi,

      You can use the search functionality of the SDN forum for getting details. Before posting a thread it is advisable to check for the message in the SDN forum.

      You can get details in the SAP library also.

      Regards

      V.Krishnan

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    Former Member
    Nov 27, 2007 at 10:47 AM

    Hi Juhi,

    On a very simple note When you create your balance sheet your sundry debtors are assets for you. This is not advisable to mantain aal your customer accounts in the balance sheet. So what you do in SAP is Mantain a recon acc in the customer master. Whenever you make any entry for the customer, this recon account gets updated.The balance of this account is your Accounts receivable under current assets

    Hope it helps

    Reagrds

    Pratiksha

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    Former Member
    Nov 27, 2007 at 02:29 PM

    Hi

    Reconciliation a/c is a general ledger which is assigned to sub ledger master record to record all transactions of subledger online.

    In Balance sheet mention the reconciliation a/c balance in current assets/current lby instead of showing all vendors/customers balances individually.

    venkat

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