What is reconciliation account; can you directly enter
documents in that a/c?
Answer Posted / navneet multani
Reconciliation Accounts are G/L accounts that receive postings from a subsidiary ledgers. Meaning, transactions data are not posted directly to recon accounts. Example of recon accounts are Accounts Receivable, Accounts Payable and Fixed Assets G/L. For accounts receivable G/L the subsidiary ledger is the customer account. All transactions with the customers are posted directly to the customer account and the recon account is automatically updated. How this thing happen? Well, when you create a customer account you specify under the Company Code data the reconciliation account.
Is This Answer Correct ? | 4 Yes | 4 No |
Post New Answer View All Answers
Generally what order will be followed in implementation of sap modules?
What is business area?
What is a special gl transaction? : fi- general ledger
What is web? What is its purpose?
What do you mean by net postings? : fi- general ledger
Difference between depreciation ,accumulated depreciation and apc? What is apc?
What is archiving? How does it differ from deletion? : fi- general ledger accounting
Explain plan layout? : co- cost center accounting
What are the problems faced when a material ledger is activated?
What are distribution keys? : co- cost center accounting
Is it possible to change an existing b/s gl a/c to the p&l type? : fi- general ledger
How can you default certain items while creation of internal order master data?
Name any 5 CO tables and How do CO Consultants use the CO tables and other tables?
What are recurring entries and why are they used?
Can anyone please provide me atleast two Support Tickets of SAP FICO?