How to create reconciliation account

[Former Member]

hi gurus,

when iam trying to create a customer,system is asking reconciliation account.But,in the selection list,there are no entries found for reconciliation account..can u please tell me how to create reconciliation account,step by step..this is very urgent...

Thanks in advance...

Regards..

Yogi..

[Former Member]

Hii

system is giving this error as customer and vendor accounts are needed to update the GL account and the accounts are kind of subledger account,...

so u need to create the sundry debtors or creditors account in FS00. here under description tab u need to select balance sheet account and under control tab select reconciliation account type as customer or vendor... whatever applicable..

now give the same GL account number in customer or vendor master data in reconcilliation account number.

so that through this recon. account is a GL account to which subsidiary ledgers (customer and vendor) are connected and updated..

hope u got ur answer

reward points

sejal

[Former Member]

Hi Yoganand,

To put it in simple paralance, Reconciliation account is a GL account to which subsidiary ledgers are connected. In SAP you have to create a Recon account for both Customers and vendors since both are Subledgers.

You can create Recon account in T.Code FS00 and dont forget to create it as a Balance sheet account and select Recon acct for acct type as customers or vensors (Whichever is applicable) in Control data Tab.

And then go ahead creating you sub ledgers, you can assign this recon account.

Hope i am clear in my explanation,

Regds,

Mallikarjun

[Former Member]

Hi

Without a reconciliation account in the chart of accounts, you cannot post to a sub-ledger like Vendor, etc.

You can create a G/L account (Tcode-FS00) in the 'balance sheet' category and reconciliation account. Select the 'accounts payable' option in the reconciliation account category and save it with other required GL parameters.

Then you can start posting to your vendor accounts. Hope this would be useful to you. If you find it OK, please assign points.

Regards