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Reconciliation A/c

why we need Reconciliation A/c at the tme of vendor creation , cash management group and vendor A/c gropu Kred?

pls explain via example

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    author's profile photo Former Member
    Former Member
    Posted on Nov 27, 2011 at 09:45 AM
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  • author's profile photo Former Member
    Former Member
    Posted on Nov 27, 2011 at 05:44 PM

    Reconcilliation a/c - this used as an intermediate account for final settlement to the vendor from the finance angle.

    Cash management group is also a finance entry. it helps in segregation of different cash payments.

    Vendor Account group segregates the vendor type. ie Domestic, import, sub-contracting, employee etc

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