WHAT IS THE RECONSILLATION ACCOUTN
WHAT IS THE NEED OF RECONSILLATION AND WHERE IT EFFECTED
CAN WE MANINTAIN CUSTOMER AND VENDOR MASTER RECORD WITHOUT
RECONSILLATION ACCOUNT.
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Answer Posted / suvankar pal
1. Reconciliation account is to be created to merging the
sub ledgers into one ledger in SAP.
2. Generally we post customer & vendor account to
Reconciliation A/C. i.e. We create one Customer GL A/C and
One Vendor GL A/C and post all customer and vendor to the
respective A/C. We create customer and vendor sub ledger
and post all customer and vendor to those sub ledger. By
merging in the sub ledger it automatically posted to
Customer and vendor G/L Account and that is why in Balance
Sheet we can see total of Customer and vendor.
3. Yes, We can maintain customer and vendor master record
without reconciliation account but in that case customer and
vendor will not be merged and in Balance Sheet all customer
and vendor will come with name. Not only that we can not
consolidate cross company codes etc and it is not advisable
to do this.
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