Answer Posted / geevidhyadhar
Hi Suresh
Please read special G L transactions as Special
Transactions in the General Ledger. There are are a wide
variety of such special transactions:
a. Down Payments where payment (money flow) precedes
invoicing
b. Requests and reminders relating to Down Payments
c. Bills of Exchange where the actual receivable / payable
is reported as Bills Receivable / Bills Payable
d. Requests and reminders relating to Bills of Exchange
e. Individual value adjustments ( known as Reserve for bad
debts in India)
f. Many other transactions such as Refundable deposits,
gurantees, other notional transactions for tracking
purposes etc.
Some of these transactions do not have an accounting
impact. Some others are listed as notes to financial
statements. Some others ( downpayments) etc are grouped
differently in financial statements for reporting purposes.
Special G L transactions are configured with special
posting keys such as 09, 19 ( for customers) and 29 and 39
( for vendors ) and unique single character special G L
indicators. These transactions post to alternative
reconcilation accounts in the General Ledger which are used
for reporting purposes.
Regards
geeVidhyaDhar
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