on 2008 Nov 07 2:10 PM
What is the purpose of the reconciliation difference account in the general tab of G/L determination.
Does it affect while using the automatic reconciliation(Reconciliation difference) for the external bank statement.
How it will be useful if we set an account for Reconciliation difference
in the G/L determination.
Give some real time example like when there would be difference between the bank statement and our books.And the difference between general,automatic and semi automatic methods.
Request clarification before answering.
Hi M. Sundararaja Perumal
This account is only used for the automatic reconciliation function on internal reconciliations and does not affect External reconciliations such as Bank recons. It will only be posted to where a reconciliation difference amount is specified in the automatic reconciliation selection screen.
In effect, this setting allows entries that match on date and reference for example but are different on amount within the limit (reconciliation difference) specified by you, to still be reconciled. For example I want to ignore anything where the difference is 1 cent, and reconcile it.
Hope the above helps, if not let me know.
Kind regards
Peter Juby
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