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What is difference between Reconciliation Account and Revenue account.?`

Former Member
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What is difference between Reconciliation Account and Revenue account.?

Where does it effects after a sales order , delivery doc. or billing doc.?

Accepted Solutions (1)

Accepted Solutions (1)

Former Member

Hi,

Reconciliation Account is your subledger Account which is always reconciled online with the GL account. You assign reconciliation account for vendors and customers. you cannot post directly to a Reconciliation Account.

On other hand, Revenue Account is normal GL Account wiht specific Account Group as 'Revenue'. A Revenue Account is created as Cost Element wikth category '11'.

Reward point please if useful.

Regards,

Amol

Former Member
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The above reply require some modification.

Any account can be designated as a revenue account which has got no bearing to the account group Revenue nor to the cost element category. Take for instance, you would like to post Sales revenue to GL account 410000. You can still post to this account without creation of cost element 11 or assigning to the Revenue account group.

Answers (1)

Answers (1)

Former Member
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Hello Mukesh the comments givan by Amol and Siva kumar are correct.

Here I am telling you how these accouts arer wrking in sales order and at billing and delivery.

Our reconsilation account is reconsile with customer that why when you create the sales order you are mentioning the customer at this time reconsiation account works.

Whenever you doing any posting there is an accounting entry is mae in accounts book right .

At the time of Delivery and billing both the accounts are affected as per the accounting rule .

I hpoe this will you help you

Regards

ravi

Former Member
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Hi Ravindra,

Can you brief me in detail.

Suppose i make sales order with price 100 and discount 20 %.

then which all changes will take place after each process of delivery, Picking, PGI, Billing.

rgds

Mukesh