Defining Reconciliation Accounts (SAP Library - FI Accounts Receivable and Accounts Payable)

Defining Reconciliation Accounts

Use

You must specify a reconciliation account in the master record so that all postings made to a subsidiary ledger are also posted to the general ledger.

Prerequisites

You have created reconciliation accounts in the General Ledger (FI-GL) and have indicated that they are reconciliation accounts.

Features

When you post items to a subsidiary ledger, the SAP system automatically posts the same data to the general ledger at the same time. 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 financial statements at any time without having to transfer totals from the subledgers to the general ledger.

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You can use the reconciliation accounts to make settings:

You can use the reconciliation account to configure the screens for posting items to customer or vendor accounts. Using the reconciliation account you could, for example, suppress the fields for entering exchange rate hedges if these types of transaction are not made. For more information, see Screen Layout.

You can also use the reconciliation account to specify which currencies you can use when posting to the corresponding customer or vendor accounts.
You usually enter the local currency in the master record. Postings can then be made in all currencies to the customer and vendor accounts that the reconciliation account is assigned to. However, you can also enter a foreign currency key in the master record of the reconciliation account. If you do this, you can only post to the relevant customer and vendor accounts in the foreign currency specified.

Activities

Make an entry in the Reconciliation account field in the master record.