reg AR, AP postings

[Former Member]

Hi,

i am having a basic doubt, whether the postings to VENDORS and customer subledger, will be done automatically once the vendor or customer is created, or will it be posted manually, same will be case with ASSETS.

regards.

venkat.

[Former Member]

Hi,

In FI we are having 4 modules

1. G/L 2. A/P 3. A/R 4. AM

AP, AR, AM modules are sub ledgers, GL acts as main ledger for the remaining sub modules,

for eg: Posting of vendor invoice

The entry is Party A/C Dr.

To. Inventory A/C

Individual party wise details are not shown B/S. The lumsum amount of various parties are shown as Sundry Creditors. So we create Sundry Creditors AC as Reconcilation A/C with Vendors.

After creating reconciliation A/C, we provide a link between vendor A/Cs and sundry creditors A/C.

after providing the link, whenever we post in the subledger, it is automatically updated in Sundry creditors AC.

same thing happens to assets and customers.

Thanks & REgards

Sunitha.

[Former Member]

Hi Venkat,

It will be posted automatically trough reconcilation account.

We will give reconcillation account at the time of cretaion of master records for vendors, cusotmers & assets

Best Regards

Ashish Jain