Setting Up Reconciliation Accounts 

Use

In order to be able to post on a business partner, reconciliation accounts must be set up in both Public Sector Contract Accounting (PSCD) for posting on the vendor in Funds Management and/or the business partner in Public Sector Contract Accounting.

Features

Reconciliation Account in Public Sector Contract Accounting (PSCD)

The reconciliation accounts for posting in Funds Management (vendor) and in the Public Sector Contract Accounting (on business partner and contract account) are controlled differently.

In Public Sector Contract Accounting (PSCD) for example, reconciliation account 160010 is set up as follows:

Field	Update control setting
G/L Account:	160010
Category/Name
Account Group	General G/L accounts
P & L acct/balance sheet acct	Balance sheet account
Short text	Vendor payables inl. FI-CA
G/L acct long text	Vendor payables inland FI-CA
Control data
Account currency	EUR
Balances only in house currency	X
Tax category	* (All tax types allowed)
Posting allowed without tax	X
Reconciliation acct for acct type	Contract Accounts Receivable and Payable
Managing open item
Line item display
Sorting key
Entering Bank/Interest
Field status group	G067 (reconciliation account)
Relevant to financial transac.
Commitment item	Recon_deb (financial transaction 60)

 

This reconciliation account is entered in IMG activity Define Accounts for Receivables/Payables. This IMG activity is in the Customizing of Financial Accounting, under Contract Accounts Receivable and Payable à Basic Functions à Posting and Documents à Document à  Define Account Assignments for Automatic Postings à  Automatic G/L Account Determination.

 

The settings for this IMG activity could be as follows:

Reconciliation Account in Funds Management (PSM-FM)

Normal reconciliation accounts are required for vendor view postings in Funds Management (PSM-FM) for vendors. G/L account 160000 is set up as follows:

Field	Update control setting
G/L Account:	160000
Category/Name
Account Group	General G/L accounts
P & L acct/balance sheet acct	Balance sheet account
Short text	Vendor payables inl.
G/L acct long text	Vendor payables inland
Category/Name
Account currency	EUR
Balances only in house currency
Tax category	* (All tax types allowed)
Posting allowed without tax	X
Recon. acct for acct type	Vendors
Management OI
Line Item Display
Sort key
Entry Bank/Interest
Field status group	G067 (Reconc. acct)
Fin. trans.-relevant
Cmmt item	Debit (Financial transaction 60)