Difference between Reconcilation and G/L accounts

[Former Member]

Hi All,

I would like to clear an invoice.It takes reconcilation account into account while clearing.Then what is the use of a G/L account.

[Former Member · Accepted solution]

Hello,

which transaction code do you use for reconcillation? in normal cases it is only the G/L of the customer and the bank which you have provide where you want to clear the invoices

the reconcillation of only a aggrergation of all customers or all vendors etc

Thanks and Regards

Akasha

[Former Member · Accepted solution]

Hi Akashe,

Many thanks for your quick reply.

I am using F-28 T.Code for clearing an invoice.

Here We are entering the reconcilation account in the account field.

Many thanks.

[Former Member · Accepted solution]

Hi

The flow is going like this:

When you create the Invoice Accounting documents are generating:

Customer Account/Reconciliation account : Dedit

Revenue account : Credit

When you pay the amount F-28:

Customer account/reconciliation account: Credit

Suspecious/AR G/L account : Debit

When you run the final settlement (With bank)

Suspecious/AR G/L account : Credit

Main Bank account : Debit.

Hope this clarify your doubt.

[Former Member · Accepted solution]

Hi Yadav,

How do we run the final settlement means which T.Code?

After posting the amount through F-28 it is final.Please correct me if I am wrong?

Still my doubt is not yet clarified.What is the real crux in assigning two accounts means one G/L account and another Reconcilation account.What is the difference?

Thanks,

Jeo.

[Former Member · Accepted solution]

erpsapsd ,

Reconciliation Account:

The reconciliation account in G/L accounting is the account which is updated parallel to the subledger account for normal postings (for example, invoice or payment).

For Special postings (downpayment), this account is replaced by another account (Downpayment received.)

Usually when 100% payment is recieved against a billing document in F-28 in the reference the accounting doc status in the document flow is marked "Cleared" or else it is "not cleared".

Regards

Sathya

[Former Member · Accepted solution]

Hi Satya,

Thanks for your response.

Could you more elaborate on G/L account.

Any help will be highly appreciable.

Thanks in advance.

Edited by: erpsapsd on Apr 22, 2009 1:47 PM

[Former Member · Accepted solution]

Hi All,

Closing the thread as there were no proper replies.

Still all inputs on this issue are accepted.