What is the Difference between Reconciliation A/C and
Normal Posting A/c
Answers were Sorted based on User's Feedback
Answer / rohan
Hi,
Generally all the revenue postings are made to the G/L
account. We maintain reconciliation account for customers,
vendors etc and the postings from the normal G/L account
are updated automatically to the corresponding
reconciliation account.
In other words, manual entries can be posted in the normal
G/L account and the same is not possible in the
reconciliation account, as these are automatically upadted.
Thanks
Is This Answer Correct ? | 10 Yes | 1 No |
Answer / rocky
rec acc is parlel to sub led ac and it helps in normal
postings
Is This Answer Correct ? | 1 Yes | 2 No |
Answer / subha
reconcilation account comes for export and import sales and
the condtion type is dffrent it is kofaib and is used only
for forgien trade ( exim ) policy
Where as the nromal posting account relates to your revenu
account ( normal business process)
Is This Answer Correct ? | 0 Yes | 3 No |
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