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why we need reconciliation account in SAP for AP and AR
plz give em answer in details
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Answer Posted / rsr
AR and AP are the subsidiary ledger to FI.
When you post items to a subsidiary ledger, the system
automatically posts the same data to the general ledger.
Each subsidiary ledger has one or more reconciliation
accounts in the general ledger. These reconciliation
accounts ensure that the balance of G/L accounts is always
zero. This means that you can draw up balance sheets at any
time without having to transfer totals from the subledgers
to the general ledge.
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