on 07-10-2007 9:02 AM
What is the purpose of Reconciliation account assigned in customer master. Wehn it gets posted and how it is used ? Do all customer share the same Reconciliation account ?
Reconciliation - as the name suggests is used for Reconciliation of customer balances.At any point of time i can login into T.code FS10n and give the reconciliation account number and check the balances due from customers.
EX: In your Company code you have 2 customers. All the customer master records are populated with reconciliation account YYYYY in the Company code data.
When ever the system records a sale transaction, the following FI entry is passed:
Customer Account Dr
to Sales A/c Cr
The accounts updated here are Customer account, sales account as well as the Reconciliation Account.(because we have entered this in master record of the customer,it also gets updated in real time)
If i have done Rs.1000 with customer X(with recon account YYYYY entered in the master record)Rs.2000 and with customer Z(with recon account YYYYY entered in master record), the total balance of recon account would be Rs.3000.
<b>
Do all customer share the same Reconciliation account ?</b>
Depends on the clients requirement. if he wants separate recon account for a bunch of customers say government agencies, then the Fi consultants can create additional recon account.
Regards
AK
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Reconcilitation account is the account that is created for the cutomer to check that whether customer is having any due for the company
What ever the postin that are done by the customre will not be post dire tly into the cuotmer gl account instead the dirctly goto reconciliation acoount and then to gl account
Tcode for the reconciliation account is <b>fs10</b>
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Hi,
By maintaining reconciliation account what ever payment made by the customer willnot be posted directly in his account 1st it willbe posted under this reconciliation account once it realised it will be posted in his account for that purpose we have to maintain th reconciliation account
Regards
Karthik.R
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For the posting of sales revenue related to customer all the customers well be having same account
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hi,
REconciliation account is sued by the system to post the sales revenues of the customer to respective G/L account
yes all the customer use the same reconciliation account
REgards,
Murali
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