What is reconciliation account; can you directly enter
documents in that a/c?
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Answer Posted / syed gouhr ali
Recon accounts of customer and vendor are the GL accounts.
The purpose of these recon accounts is to display the total
balance of tens and hundreds of customers and vendors a
company code may have. If we were to post entries directly
in the recon account of so many customer or vendors, at the
day end we will be lost while figuring out the balances of
each customer and vendor individually because they will all
be mixed up in just one account.
Therefore, we only post to the individual customer or
vendor accounts ( also known as the subsidiary account) and
through the link we create, all the balanes of these
accounts are updated on the recon account.
The benefit: If we need to check the balance of Customer
ABC, we go to the customer account ABC and check how much
they owe us, if we want to check the total outstanding
towards all customers, we go to the recon account and check
the customer total. Like wise for the vendors.
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