Configure Reconciliation Accounts
Reconciliation Accounts are created to keep FI-GL in balance with CO. Since not all transactions affect GL an example could be “Internal Order Settlements” which use secondary cost elements and do not affect G/L accounts, in order to make these affect the FI side we maintain reconciliation accounts.
These are primarily used for cross company, cross functional and business areas transactions that is why the number of these type of accounts is defined dependant on the factors how you management departments wants to see the reports, how they want the cost based object class to be classified in CO or by Cost Object types and more.
The basic configuration that must be followed is:
1. Activate Reconciliation Accounts. (Customizing -> Controlling -> Cost Element Accounting -> Reconciliation Ledger ->Activate/Deactivate Reconciliation Ledger)
2. Assignment of Recon document type to the Controlling area.
3. Creation of the clearing accounts to be used for reconciliation. During the FI-CO reconciliation intercompany clearing accounts will be automatically credited or debited so an offsetting account needs to be created which is the one that will show up on the P&L accounts. Account determination is made through T.code: OBYA
4. Maintain accts for Automatic Reconciliation posting.
5. Assign Number ranges to Reconciliation activity.