Answer Posted / hannah
Hi,
Customer and vendor accounts are sub ledger G/L's. We will
have to create two reconciliation G/Ls in viz.
Reconciliation G/L for Customer and Vendor in chart of accounts.
After, while creating customer and vendor master records, we
have to mention respective reconciliation G/L in their
company code segment details. This reconciliation a/c will
show you the net balances in G/L for customer and vendor a/cs.
Without creating Vendor you can still create individual G/L
for each customer and vendor , but then
1) Your list of G/L'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.
Thank You.
| Is This Answer Correct ? | 9 Yes | 5 No |
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