Answer / meeravlai

AP and AR are sub ledgers to GL, the reconciliation accounts help to update the transactions in GL whatever we enter in AP and AR

Answer / keerthi

for a company many customers and vendors are present there is opurtunity to create a gl to each customer or vendor but we cant create like that so we create a reconcilation account as main gl account and customers and vendors are created as sub ledgers.....we group them both in there master records

Answer / rsr

AR and AP are the subsidiary ledger to FI.
When you post items to a subsidiary ledger, the system
automatically posts the same data to the general ledger.
Each subsidiary ledger has one or more reconciliation
accounts in the general ledger. These reconciliation
accounts ensure that the balance of G/L accounts is always
zero. This means that you can draw up balance sheets at any
time without having to transfer totals from the subledgers
to the general ledge.

Answer / jm

As an end user, When an entry is posted for AR/AP
transactions. It is reflected in AR/AP sub ledgers only.
However reconciliation accounts ensures the automatic
posting to Main GL a/cs.

In other words Reconciliation accounts ensures automatic
postings from Sub ledger to Main ledger

Answer / deepthi

To carry fwd the balances of subledger a/cs we need
reconcilation a/cs

Answer / sagar_sap

Reconcile ledger creates a link between main G/L and sub ledger that means:

Example:
Customer a/c in AP is a sub ledger
and Sundry Debtor is a G/L

So, reconcile ledger creates a link to update G/L through Sub ledger. when you post any transaction to a subledger it updates G/L through Reconcile ledger.
Transaction--> Sub ledger ==> Reconcile Ledger --> G/L

Answer / p.santhosh

As simple as that is for Ap team dont have access for Ar
team and Ar team dont have access for Ap Team.So we need
reconciliation(interem) account to pass the corresponding
leg entry by each team.

1.How do we get the list of normal gl accounts, reconciliation accounts and alternate reconciliation accounts?

1 Answers  

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2 Answers  

i configured payment terms & exchange rate for usd & inr? i'm trying to post either customer or vendor whith exchange rate gain, if i post invoice exchange rate gain, it is taking as discount reced/allowed? let me know the solution for the same regards, janardhan

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What is a special period?

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4 Answers