on 04-10-2008 3:06 PM
HI,
what is reconciliation ? what should i type there ? coz it is asking me reconciliation no?is there any relationship with g/l account?
Hi,
Reconciliation account is maintianed in customer master and vendor master.
Functions of the Reconciliation Account: Customer Master Records
When you post items to a subsidiary ledger, the system automatically posts the same data to the general ledger (see the following illustration). Each subsidiary ledger has one or more reconciliation accounts in the general ledger. These reconciliation accounts ensure that the balance of G/L accounts is always zero. This means that you can draw up balance sheets and profit and loss statements at any time without having to transfer totals from the subledgers to the general ledger.
Prase
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Thanx for the Reply
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