What is the difference between Recon. Account and Alternative Recon. Accoun
any body please tell me . What is the difference between Recon. Account and Alternative Recon. Account.
Reconciliation account- For each subledger account , you must keep at least one reconciliation account in the general ledger. When you post to an account in the subledger, the system automatically posts to the corresponding reconciliation account. The "Receivables from goods and services" account is an example of a reconciliation account for customers. Enter Customer in the Reconciliation account for account type field. Enter a Vendor in this field for a vendor reconciliation account. Using the reconciliation account procedure, it is possible to create a balance sheet and a profit and loss statement at any time, since the amounts posted to subledger accounts are also posted automatically in the general ledger.
During regular reconciliation, you check whether the balance of the reconciliation account matches the balance of the corresponding subledger account.
You define reconciliation accounts by specifying in the G/L account master record the account type (such as fixed assets, vendor or customer) for which the account is to be used. In this way, the account can only be assigned to accounts in the corresponding subledger. You set the assignment of the subledger account to a reconciliation account in the master record of the subledger account. You cannot post to reconciliation accounts manually .
Alternative Reconciliation account- Special G/L transactions are identified by a special G/L indicator. The system uses the specifications (posting key and special G/L indicator) to determine the alternative reconciliation account.
When you post a special G/L transaction, the system does not post to the normal reconciliation accounts but instead automatically to alternative accounts, that is, special G/L accounts. Consequently, you do not transfer the balances of these accounts either. Instead, the system posts to the appropriate accounts automatically when the open items are transferred.
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