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Reconciliation Accounts and Special G/L Indicator

Most SAP people might be asking, what is a reconciliation account in SAP Financial Accounting? Well, my dear readers surely you will be enlightened by this article.

First…

You must understand the definition of general ledger. General ledger is the main accounting record of a business which uses double-entry bookkeeping. In SAP, the central task of G/L accounting is to provide a comprehensive picture for external accounting and accounts. Transactions that have a financial impact are captured by the general ledger. The transactions could be originated from other modules. Read more