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Answer Posted / hannah
Hi,
Sub ledger is also a ledger account relating to Vendors,
Customer & Assets. It will be connected to the main ledger
ie. Sundry Debtors, Sundry Creditors & Asset Block through
reconciliation account in SAP so that balances in sub
ledgers are readily available in main ledger.
Assume X as a customer Y as supplier. In FI general ledger
functionally, there will not be these two accounts instead
GL will be having Receivable and Payable accounts.
In the above example X & Y are sub ledgers and receivable
and payable accounts are main ledgers.
People (FI) who are interested only on total recievables and
payable will take the report from GL and the collection or
payment departments will be knowing the details from sub
ledgers from whom the amounts need to come or to be paid.
In SAP every vendor is linked Via a reconciliation account.
This reconciliation account need to be created using FS00 in
SAP and you need to give either he is vendor or a customer.
Thank You.
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