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Reconilation Account

While creating vendor master record.

In accounting view system asks for Recon Account.

I want to know whether we have to mention it or the system automatically takes it?

If system automatically selects it whats the link between Recon account and vendor?

And if we have to mention it how can i?

Also Whats the significance of Reconciliation account?

Points will rewarded.

Thanks in advance.

Former Member


Generally, the Recon acct is nothing but a G/L acct for Vendor.

1.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).

2.For special postings (for example, down payment or bill of exchange), this account is replaced by another account (for example, 'down payments received' instead of 'receivables').

3.The replacement takes place due to the special G/L indicator which you must specify for these types of postings.

We have to give this recon acct manually as per logic, system will not picks this automatically.

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