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GL Account Clearing using T.code F-03

Former Member
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1,518

I am trying to clear the line items of a balance sheet gl account ( short term general liabilities) using t.code F-03.This gl account is specified as "open item Management" and line item display in the GL Master.

The problem is that when I try to clear the line items of the account, an error appears saying" Exchange rate difference accounts are incomplete for the account.

This means that foreign exchange valuation gain/loss accounts have not been assigned to this account.

My question is, why should exchange rate difference accounts be assigned inorder to clear the line items of a gl account?

Is there a setting which makes it mandatory for a gl account to be assigned exchange rate gain/loss accounts??

How do I solve this problem?

Edited by: aravind kamireddy on Sep 18, 2009 6:28 PM

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Answers (1)

Answers (1)

Former Member
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For open item clearing, you must have exchange rate realized gain/loss accounts specified for the accounts you are trying to clear. This must be done in transaction OB09.

Former Member
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Any reason why exchange rate realized gain/loss account has to be assigned.We are not dealing with exchange rate valuation.We are just trying to clear a gl account.

Your answer must be right.But any reason why?

Former Member
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Hi,

First of all..why would system need a Exchange gain/Loss Account..If your local currency is INR and you posted a debit and a credit document both in INR..then there is no question of a foreign exchange gain/loss account..

BUT, if you have posted the document in any currency other than INR, ie: your local currency...then the system would need a exchnage gain/loss account when you try to clear the debits and credits.. i am giving an example below to explain better..

You posted a debit of 100 USD @ 40 = Rs. 4000.00

You posted a Credit of 100 USD @ 42 = Rs. 4200.00

Now, if you clear this debit and credit then there is no difference in 100 USD, as the debit and credit is netting off.. but if you see INR there is a difference of Rs. 200.00 which system posts to Exchange gain/loss account..which we maintain in OB09.

Hope it is clear to you now..

Regards,

SAPFICO.

Former Member
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In addition to the Experts answers above

Transaction OBA1 - (Automatic Posting - procedures) will be the transaction where you are going to define the Respective GL accounts for the Recon Account of Customer /Vendor

1) Valuation Gain/Loss

2) Realization Gain/Loss

3) Balance Sheet Account.

While Doing valuation if its a loss

Valuation GL account will be Debited

Balance Sheet account will be credited

If its a gain Vice Versa

When you do Realization - if its a Loss

Realization GL Account will be debited

Balance Sheet Account will be credited