Reclass in FI Posting

Hi ,
Please let me know terminalogy in  Re-Class or Re classification in FI. Also let me kwow, whether we will loose track of posting after Reclass. Please advise me on transactions used for recalss and necessary table updated after reclass.
madhavan

Dear Madhavan,
Reclass refers to the process of reclassifying accounts payables and receivables to the correct reconciliation account, which is typically a period-end activity.
Common Business Requirement
At the end of each month, if there are customer reconciliation accounts which are in credit balance, they should be reclassified to current liabilities accounts. If there are vendor reconciliation accounts which are in debit balance, they should be reclassified to current assets accounts. Reclassification should be carried out after GR/IR account maintenance has been completed. After AP/AR reclassification has been completed, foreign currency revaluation should then be carried. For more details, refer to process on Foreign Exchange Revaluation.
Regrouping according to long-term asset and liabilities remaining will not be done since there is no business requirement.
Common Business Process Flow
Common Business Process Flow for Reclassify AP/AR is as follow:
Coming Soon!
Standard SAP function will be used. When customer reconciliation account is a credit balance, the credit balance is transferred with adjustment account to a current liability account on the balance sheet. If the vendor reconciliation account is a debit balance, it will be transferred to a current asset account on the balance sheet.
This standard SAP program will also be used if
   u2022 There is a need to reclassify the open customer/vendor items based on the remaining term
   u2022 There is a need to change the reconciliation account of customer/vendor.

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  • Manual Posting Inversion in Total Record

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    Dear Dan
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    Building                              1,000       (100)      900
    Machine                                 600       100       700
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    Building       (100)          
    Machine       100      
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    Building                                 900       (100)      800
    Machine                                700       100       800
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    Building       (100)          
    Machine       100           
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    Building        900       100       1,000
    Machine       700       (100)      600
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    Building       100           
    Machine       (100)          
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          2007 before reclass       Manual Posting       2007 after reclass
    Building                                 900       -       900
    Machine                                700       -       700
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