Reconciliation account role in vendor master

Please provide the detail about role of reconciliation a/c in vendor master

Reconciliation account in typical accounting terms would " Control account ".
Means the creditors account in which you want to show the outstanding .
like Creditors for Materials or Creditors for services or Creditors for other purchase etc.
So let say you are posting any invoice of expense then system would pass the entry like this :
Expense A/c Dr. 100
To, Creditors materials A/c 100 .
So in sundry creditors it would show as Rs 100 outstanding and in subledger that is vendor account you will see that 100 Rs. as open item .
Cheers ,
Dewang

Similar Messages

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    1. Can we use same account group to create the vendor master for the different partner roles? for the partner roles like goods supplier, invoicing party, order party, etc do all these need to have different account groups , example one account group for goods supplier, one account group for invoicing party, etc , etc.
    2. why we need the configuration for partner role in purchasing documents besides  partner role settings for vendor account group. what is the logic behind to have partner role dependent settings for purchasing documents.
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    > 1. We can have 1 account group represent all partner role or separate account group for each role.
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    Do we require to assign vendor schema group to following vendors roles- goods suppliers, invoicing party and payee.
    If we do not assign vendor schema group will these partner role determine price from the VN partner role. For example VN (vendor) has vendor schema group assigned, no vendor schema group assigned to invoicing party, then while doing MIRO the invoicing party will be defaulted. Do the price determined for VN role will be populated for invoicing party in MIRO?
    > 2. we need partner role in purchasing doc because we can copy partner role from vendor master to purchasing document
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  • Different Reconciliation Accounts for One Vendor

    Hi Gurus,
    Please tell me how can i use different reconciliation accounts for one vendor?
    Thank You
    Regards,

    Hi,
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    *Assign points if useful

  • Partner roles in Vendor master record

    Hi all
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    Hi Sasi ,
    What Ramkrishna explained is correct. I will try to illustrate it with the example.
    Suppose you  are creating a vendor 1234 which is Head office of the supplier where you need to place the order. But goods will be supplied from Pune plant so you should enter 1235 againts partner function GS , here 1235 is seperate  vendor master record with Pune plant details & it must exist in the system so that you can use it as a partner function Hope this has cleared your doubts.
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  • Reconciliation Account missing for vendor

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  • Partner roles in vendor master

    Dear All,
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    Hi,
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  • Change of Reconciliation account for Customer/Vendor.

    Dear All,
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    Thanks & Regards

    Hello,
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  • Bank Account details in Vendor Master

    Hi
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    JR

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