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Reconciliation Account

German Translation

Mitbuchkonto

Category

Accounting with SAP R/3

Short Description

G/L account, to which transactions in the subsidiary ledgers, (such as in the customer, vendor or assets areas), are automatically updated.
It is generally the case that several subledger accounts post to a common reconciliation account. This ensures that the developments in the subledger accounts are accurately reflected in the general ledger (i.e. in line with balance sheet conventions).
Example:
A reconciliation account for all overseas customers.
[vgl. www.sapinfo.net (23.11.2001), URL]