Answer / georgefico

1. Reconciliation is a process of clearing/matching your
Dr/Cr entries against the Bank statement.

2. Customer and vendor accounts are sub ledger GL's. We
will have to create two reconciliation GLs in viz.


While creating customer and vendor master records, we have
to mention respective reconciliation GL in their company
code segment details. This recon a/c will show you the net
balances in GL for customer and vendor a/cs.

Without creating Vendor you can still create individual GL
for each customer and vendor , but then
1) Your list of GL's in chart of account will be very
lengthy.
2) Duplication of work as SD/ MM people are also required
to create their own list.
3) Cross company code consolidation will not be possible as
the chart of accounts will be different.
4) Very difficult to keep track of individual customer/
vendor a/cs.
5) Not advisable even in real time accounting system i.e.
manual book keeping.

Answer / suvankar pal

1. Reconciliation account is to be created to merging the
sub ledgers into one ledger in SAP.

2. Generally we post customer & vendor account to
Reconciliation A/C. i.e. We create one Customer GL A/C and
One Vendor GL A/C and post all customer and vendor to the
respective A/C. We create customer and vendor sub ledger
and post all customer and vendor to those sub ledger. By
merging in the sub ledger it automatically posted to
Customer and vendor G/L Account and that is why in Balance
Sheet we can see total of Customer and vendor.

3. Yes, We can maintain customer and vendor master record
without reconciliation account but in that case customer and
vendor will not be merged and in Balance Sheet all customer
and vendor will come with name. Not only that we can not
consolidate cross company codes etc and it is not advisable
to do this.

Answer / mayavi

Reconciliation a/cs( also called Control A/cs in pure
accounting) are the net figures for items such as Drs and
Crs of an organisation. since it would not be possible to
show the complete list of all vendors in the B/S, a recon
a/c is maintained for the purpose.
however, the main feature of a recon a/c is that the debits
MUST equal the credits in each entry, and so no mistakes in
entries are possible (at least mathematically).
Only if the organisation has a handful of suppliers and
customers is it advised that no recon a/c is opened.

Answer / vkc

While posting data throw subledgers (like,
customer/vendor/asset master records, it should be
automaticlly updating in main GL A/c. That is the reason
sap is useing reconcialation.

Without reconcialatiion u can creat master record, but
cannot post any entry in subleger.

Procedure: Create GL a/c in fsoo, control data
reconcialation type has to be select.

when ur creating customer/vendor a/cgroup, field status
make it required entry.

Answer / avsp. dhurga

here we have to tell one thing A/R and A/P are sub ledger
accounts to FI. So if we post any document in A/r or A/P
it will be effected to G/L with the connection of
reconciliation Account. we cant maintain vendor and
custoer master record with reconciliation account. For
Sundry Debtors we assing the customers against the
reconciliation account for account type and in the case of
Sundry Creditors we assign vendors against the
reconciliation account for account type. so it is
mandatory.

Answer / pavs

reconcilation account is the summary of subledgers. g/l is
the main ledger and vendor,customer,asset accounts are the
subledgers.it effects in gl master record and vendor
masterrecord and customer master record.no we cant maintain
customer and vendor master record without reconcilation
account.

what is depreciation? what are depreciation methods? please explain those method? can any one reply urgently?

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When I post any transaction in F-02. Showing error as "No amount tolerance range entered for company code" and if i press enter again for the 2nd time, its showing error as "Company code not assigned to country or country to calculation procedure". Please provide me a solution for this? For this I got the answer "remove tolerance group from GL account and to assign some tax procedure to country with out this sap system does not allow any transactions in system.so procedure for assigning tax procedure is mentioned below. --->Financial Accounting---->Financial A/c Global Settings---->Tax on Sales/ Purchases---->Basic Settings---->Assaign Country to Calculation Procedure----> Select Position Button Country----> IN Press Enter For Counry IN Assaign Procedure ----> TaxUS-Sales Tax Select Save Button or CTRL+S. Press Enter to save in your request. I've done following the same procedure However, Now I am getting New error as "Maintain conversion factors for EUR/INR (Currency type M)". I am unable to go further. Please give me the solution for this? (Thanks to Mr prasad for your valuable answer)

4 Answers  

Hi SAP friens, i am a beginner in SAP-FICO and started giving interviews...i am struggling and lost couple of interviews because I couldnot tell any tickets/issues...can you help me by sending some tickets/issues to my mail id - rajendranmba@gmail.com...it would be of great help to me to clear the interview...please help.

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0 Answers  

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7 Answers  

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