In SAP we have 3 types of Subsidiary ledgers maintained for Financial module i.e. Accounts receivable, Accounts Payable and Asset Accounting. Each and every subsidiary ledger will have detailed transaction report. Subsidiary ledgers are connected to general ledger through an Account called reconciliation account. When transactions posted into a subsidiary ledger the … [Read more...] about How Reconciliation Account is used in Customer Master Record
reconciliation account
What is the use of reconciliation account in SAP FI Module?
Reconciliation account in SAP is a general ledger account assigned to the business partner master record to record all transactions in the sub ledger. Posting to the sub ledgers are automatically get posted to the assigned reconciliation account by which the general ledger will always be up to date. It is a prerequisite for creation of vendor master. Every transaction in … [Read more...] about What is the use of reconciliation account in SAP FI Module?