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Reconcilation Account Direct pass JV

Hi Expert,

We are facing problem while finalization of Balance Sheet, we have one vendor where , we have given Down payment  Made i.e advance on Fiscal year 2013 say Rs.100000/-

after that he has not send the goods till now so in Vendor A/c Showing Debit  Rs. 100000/- Balance as well Advance to Vendor GL i.e 233600 ( Advance to Vendor GL) i.e Recon A/c : Customer Alternative Reconciliation also showing for the same amount Rs.100000/-

now Management says close the books this year. they will not send the goods.

In this case wht should i do to pass the entry so out Vendor balance also become Zero account as well 233600 Advance to Vendor as well should be knoc-off. finally we have to load some Expenses GL A/c . if i m not wrong , we have discussed with External Auditor as well.

Kindly tell me step to achieve for this issues.

Your quick action will be highly appreciated.

Kind regards

Pranav Kr. Gupta

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