What is the Difference between Reconciliation A/C and
Normal Posting A/c
Answers were Sorted based on User's Feedback
Answer / rohan
Hi,
Generally all the revenue postings are made to the G/L
account. We maintain reconciliation account for customers,
vendors etc and the postings from the normal G/L account
are updated automatically to the corresponding
reconciliation account.
In other words, manual entries can be posted in the normal
G/L account and the same is not possible in the
reconciliation account, as these are automatically upadted.
Thanks
| Is This Answer Correct ? | 10 Yes | 1 No |
Answer / rocky
rec acc is parlel to sub led ac and it helps in normal
postings
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / subha
reconcilation account comes for export and import sales and
the condtion type is dffrent it is kofaib and is used only
for forgien trade ( exim ) policy
Where as the nromal posting account relates to your revenu
account ( normal business process)
| Is This Answer Correct ? | 0 Yes | 3 No |
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Kindly give solution for this TICKET I am facing a peculiar scenario from our client, Issue as follows . Customer had created Sales Order followed by Delivery and Billing . Credit memo request and Credit memo was created with reference to Invoice. . Return order and Return credit memo was created with reference to the invoice. Note: During credit memo request user has changed the Base price to “0” and added special discount to give credit to customer. During returns user has changed the condition value manually to adjust the credit memo value manually, the issue is when condition value is changed manually the value of condition base value is not getting changed automatically, while posting accounting document the condition base value for Tax condition type is showing wrongly EX- Sales Order- Condition base value Condition Value Base price = 3,00,000 3,00,000 Tax= 21000(7% on CBV) Invoice- Condition base value Condition Value Base price = 3,00,000 3,00,000 Tax= 21000(7% on CBV) Credit memo request- Condition base value Condition Value Base price = 300000 ( “0”) manually changed to zero) Special discount = 100000 Tax= 7000(7% on discount since net is 0 ) Return order Condition base value Condition Value Base price = 300000 ( “200000”) manually changed to adjust above Cr .memo value of 100000) Tax= 21000(7% on CBV) Here the requirement is if the condition value is changed manually the condition base value needs to be changed. While posting accounting doc the condition base value (300000 instead of 200000) is being posted for tax.
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