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G/L Account Centrally Creation

FS00 > The screen came up with a G/L Account number and Company Code filled in. 

    


 




Short Text and G/L Acct Long Text are: A/R



Customers for the Reconciliation Account for Account Type in the Control Data tab because this specific general ledger (G/L) account is likely being set up as a reconciliation account for customer-related transactions. Here’s the reasoning:

  1. Reconciliation Account Purpose: In SAP, reconciliation accounts are used to summarize transactions from subsidiary ledgers (like customer or vendor accounts) into the general ledger. This allows individual customer transactions to be managed in sub-ledgers while being reflected in the main G/L account.

  2. Why "Customers": The presenter is creating an asset G/L account, which typically includes accounts receivable. Accounts receivable represent money owed to the company by customers, making "Customers" the logical choice for the reconciliation account type. By setting this G/L account as a reconciliation account for customers, any transactions posted in the customer sub-ledgers (like invoices or payments) will automatically reflect in this G/L account.

  3. Linking Sub-Ledgers: This setup avoids the need to create individual G/L accounts for each customer. Instead, all customer transactions are consolidated under this reconciliation account, ensuring that the G/L account reflects the total balance of amounts receivable from all customers.

In summary, selecting Customers links this asset G/L account to customer transactions (accounts receivable), streamlining financial reporting and ensuring that customer sub-ledger transactions are properly reflected in the general ledger.

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The G/L Account Type menu typically includes "Balance Sheet Accounts," which encompasses both assets and liabilities, as they are both part of the balance sheet.

So, when creating a G/L account for accounts payable (AP), the presenter would indeed select "Balance Sheet Accounts" as the G/L Account Type. Here's the corrected breakdown:

  1. G/L Account Type: The presenter would select "Balance Sheet Accounts," which includes both assets and liabilities.

  2. Control Data Tab: In this tab, for processing accounts payable, the presenter would specify the account type as "Vendors" for the reconciliation account. This indicates that the account is used to manage transactions related to vendor obligations.

This allows for proper categorization of accounts payable within the balance sheet framework, ensuring it correctly reflects the company's financial obligations. 


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