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Post details: Reconcliation Account for Account Type in SAP R3
07/20/06
Reconcliation Account for Account Type in SAP R3
In SAP, users can specify an account type as being a reconciliation account. Each and every sub-ledger account should have a corresponding reconciliation account in the general ledger. SAP automatically posts an entry in the reconciliation account as and when an entry is made in sub-ledger.
To take a simple example the "payable account for goods and services" is an example of a reconciliation account for suppliers. In the reconciliation account field, the user should enter vendor. So what is the main use of a reconciliation account in SAP? Well, with reconciliation accounts, one can generate a balance sheet or profit and loss account at any time, since amounts posted in sub-ledger are also reflected in the general ledger. One final note, I personally would advise SAP R3 users to check the balance of reconciliation account and match it with the corrsponding sub-ledger account, to ensure that they match.
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