What is reconciliation account used for maintaining Customer master data

[Former Member]

Hi,

When i tried to create an customer via XD03, there is an reconciliation account which is mandory but i dont know what to input into....

I Use IDES...

Could anyone explain me what is reconciliation account and how to config it??

Thank you .

[Former Member · Accepted solution]

Hi,

In SAP, users can specify an account type as being a reconciliation account. Each and every sub-ledger account should have a corresponding reconciliation account in the general ledger. SAP automatically posts an entry in the reconciliation account as and when an entry is made in sub-ledger. To take a simple example the "payable account for goods and services" is an example of a reconciliation account for suppliers. In the reconciliation account field, the user should enter vendor.

So you may be thinking what is the main use of a reconciliation account in SAP?

Well, with reconciliation accounts, one can generate a balance sheet or profit and loss account at any time, since amounts posted in sub-ledger are also reflected in the general ledger. One final note, I personally would advise SAP R3 users to check the balance of reconciliation account and match it with the corresponding sub-ledger account, to ensure that they match.

Now to configure it Please go to the link given below

http://www.sap-img.com/financial/how-to-configure-fico-reconciliation.htm

Reward Points if this helps

Regards

AK

[Former Member]

hi

your not able to create customer master record with xd03, its through xd01/vd01 and about reconciiation account means It is account to automatic post to GL Account when you create Billing. It often is Receivable account.

Note: please read questions fully and answers my dear exports bcz its valuable feedback for all.

[Former Member]

i dont know

[former_member184555]

Hi

Since you are using IDES, you can use the GL A/c 140000 (Domestic Revenues) as the Reconciliation account.

Thanks,

Ravi

[Lakshmipathi]

When you post items to a subsidiary ledger, system automatically posts the same data to the general ledger at the same time.

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 financial statements at any time without having to transfer totals from the subledgers to the general ledger.

thanks

G. Lakshmipathi

[Former Member]

Hi,

It is account to automatic post to GL Account when you create Billing. It often is Receivable account.

Regards,