Creating a reconciliation account in SAP

How To Create Reconciliation Account In Sap

How to Create Reconciliation Account in SAP First, you should go to the menu path on the SAP.

– After you enter the window box, you should create your G/L account.

– You also need to choose the account group inside the new window box.

– Then, you need to choose the account currency that is applicable to your business needs. More items

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How to Create an SAP Reconciliation Account

Creating reconciliation accounts in SAP is a straightforward process that follows the same steps as creating other general ledger accounts. However, there are specific attributes that must be correctly configured. The transaction code FS00 is utilized to centrally create these reconciliation accounts.

In this tutorial, we will not walk through the entire account creation process, as a reconciliation account is created in much the same way as any other general ledger account. Instead, let’s examine account 160000 for AP (Accounts Payable) reconciliation. We will walk through the three main areas where a reconciliation account differs from other accounts.

To view a reconciliation account, you can utilize the transaction code FS00 or access it through the following menu path.

The first area that denotes that this is a reconciliation account is the control data in the “Type/Description” tab. Here, you should note that the account group “Recon.account ready for input” is selected. Also, all reconciliation accounts should be identified as balance sheet accounts:

Finally, click on “Create/bank/interest” tab and check the field status group. The field status group for all reconciliation accounts is G067:

Creating a reconciliation account in SAP Tcode: A step-by-step guide for India

To create a Recon account in T. Code FS00, follow these steps. Firstly, ensure that you create it as a Balance sheet account. This is important for accurate financial reporting and analysis. Secondly, select the Recon account type based on whether it will be used for customers or vendors (whichever is applicable). You can do this in the Control data Tab of FS00.

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Once you have created the Recon account, you can proceed with creating your sub ledgers. Sub ledgers are subsidiary accounting records that provide more detailed information about specific accounts or groups of transactions. For example, if you have multiple departments within your organization, each department may have its own sub ledger to track expenses and revenues separately.

1) Create it as a Balance sheet account.

2) Select the appropriate Recon acct type (customers or vendors).

3) Proceed with creating your desired sub ledgers.

4) Assign the recon account to each relevant sub ledger for effective tracking and reconciliation purposes

Creating Reconciliation Account in SAP

To view a vendor in SAP, you can utilize the transaction code FK03 or follow the given menu path.

Enter a valid company code and vendor number, select the “Accounting info” tick box and press enter. The reconciliation account 160000 examined earlier is assigned in the “Recon. account” field for this vendor:

As a consequence, whenever there is a transaction made for vendor 36, the reconciliation account 160000 will be used to update the general ledger with an equivalent amount.

How to reconcile an account in SAP?

You have the option to utilize the Reconcile Open Items transaction for aligning Contract Accounts Receivable and Payable with the general ledger. The objective is to reconcile the current balance of designated reconciliation- and value-added tax clearing accounts.


1. The Reconcile Open Items transaction allows for reconciling Contract Accounts Receivable and Payable with the general ledger.

2. The primary purpose is to reconcile the current balance of specified reconciliation- and value-added tax clearing accounts.

Creating a Reconciliation Account in SAP

Finally, let’s see how a reconciliation account is updated when you post an invoice for a vendor.

To record a vendor invoice, you can utilize transaction code FB60 or follow the given menu path.

Enter the vendor number mentioned earlier (vendor 36 in our example) and provide all the required information for recording an invoice.

Now post the invoice and click “Document > Display” on the top far left of the toolbar to display the created document:

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On the screen, you will be able to view the details. It shows that vendor 36 has received a credit of 2000 BWP. To access more information, click on the general ledger view option.

The transaction mentioned above has resulted in the update of reconciliation account 160000, which is assigned to the vendor account.

Viewing the invoice document in the general ledger perspective.

The outcome is that reconciliation account 160000 received a credit of 2000 BWP. As a result, whenever you post a transaction to a sub ledger account, the reconciliation account will be immediately updated with the same amount. To ensure an accurate reconciliation with the sub ledger, SAP only allows updates to the reconciliation account through the system via the sub ledger. The system does not permit direct postings to the SAP reconciliation account.

Obtaining a reconciliation account

There are two ways to reconcile an account in SAP. The first method involves accessing the account details in the statements and carefully reviewing each transaction to ensure they are correct. This is done by comparing the recorded amount in the account with the actual amount spent by the company.

The second method, known as documentation, helps determine if the captured amount in the account matches what was actually spent. This process involves thoroughly documenting all transactions related to that particular account and cross-checking them for accuracy.

What does SAP reconciliation account mean?

Reconciliation accounts in SAP are special general ledger (G/L) accounts that are used to automatically record transactions from subledger accounts like accounts receivable, accounts payable, or fixed assets. Whenever a business transaction is entered in any of these subledger accounts, the corresponding posting is made automatically to the reconciliation account.

The purpose of reconciliation accounts is to provide a centralized view of all transactions related to a specific category or type of account. They help in simplifying and streamlining the accounting process by consolidating information from various subledgers into one G/L account. This allows for easier monitoring and analysis of financial data.

To create a reconciliation account in SAP, you need to follow certain steps:

1. Access the General Ledger Accounting module.

2. Navigate to the Chart of Accounts section.

3. Select the relevant chart of accounts for which you want to create a reconciliation account.

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4. Choose “Create Account” option and enter necessary details such as G/L account number, description, currency etc.

5. Specify that it is a reconciliation account by selecting appropriate settings.

6. Assign relevant company codes and other parameters as required.

7. Save your changes and your new reconciliation account will be created.

By creating reconciliation accounts in SAP, businesses can ensure accurate recording and tracking of their financial transactions while also facilitating efficient reporting and analysis processes

What is the SAP Tcode for reconciliation key?

To create a reconciliation account in SAP, you can follow these steps. First, execute the transaction code FPF2. This will allow you to access the necessary screen for creating a reconciliation account.

Upon reviewing the provided screenshot or display on your screen, it should indicate that the recon key is currently open. This means that further postings can still be made within this particular reconciliation key.

The Purpose of Creating Reconciliation Account in SAP

By using reconciliation accounts, businesses can maintain accurate financial records and easily track transactions across different modules within SAP. These accounts provide a centralized view of all related sub ledger activities, making it easier for organizations to reconcile their financial data.

The initial step in the SAP reconciliation process is?

Data selection is the initial step in the intercompany reconciliation process. It involves choosing and gathering relevant documents from various SAP systems and clients. These documents are then transferred to a central database specifically designed for reconciliation purposes.

The purpose of this step is to ensure that all relevant data is gathered accurately and efficiently. By transferring this data into a dedicated reconciliation database, it becomes easier to compare and match corresponding entries later on in the reconciliation process.

1. Data selection is the first step in intercompany reconciliation.

2. It involves gathering important documents from multiple SAP systems.

3. The collected data is transferred to a specialized database for further processing and comparison during reconciliation

What is a reconciliation account example?

An example of reconciliation in accounting is when a company compares its bank statement with its own records of transactions on a monthly basis. This process ensures that all transactions have been accurately accounted for.