recon account

[Former Member]

hi,

i have a small issue, at what point of time we define account as a reconciliation account? i want to give a loan to employee, and in my configuration i defined a down pay met request and assigned a recon account and a GL account. when running F-47 the massage giving saying the GL defined is not a recon account.how to solve this?

gayani

[Former Member]

hi

in FS00 when ur defining the GL account as reconcilaton account u should select the reconcilation field in control data tab. i hope this solves ur problem

[Former Member]

hello,

u will have to define alternative recon a/c and assign it for spl gl indicater of down payment in obyr

[Former Member]

Hi,

reconsilation account is account which will update the g/l account. subledger a/cs cannot be post directly in gl.so the reconsilation is must for assets, cust, vendor a/c.

about ur error msg.: check the master record of the reconsilation a/cs, whether u have created that a/cs with reconsilation or not. one more hint here both the accounts are reconsilation accounts. And u have to give the link in obyr to both of these accounts for down payment.

if helpful assign points,

Rams

[Former Member]

HI Rams,

In my chart of accounts there are non recon accounts also for loans and Advances. if i pick one account from the list and mark it as recon account and assign in the OBYR to vendor recon account, will that gives any inconsistency?? or is it correct??

many thanks

gayani

[Former Member]

you should set up your recon accounts when you set up your chart of accounts.

There should be at least one recon account for assets, customers and vendors

[Former Member]

cant i have many recon accounts : lets say for local vendors one recon account, for foreign vendors another recon account??and i have another type of vendors that is employee vendors, for that can i use another type of recon account???

regards

gayani

[Former Member]

yup, you can have as many as you want, the point I was making you need at least one....

It is a good idea to have various account groups and to have different recon accounts for them

Hope this helps, award points if useful.