Tuesday, 11 November 2014

What are ‘Special GL Transactions’?

Answer


Special GL Transactions’ are not directly posted to the GL (Reconciliation Accounts) though these are related to subledger accounts such as AR/AP. The transactions to these accounts are shown separately in the balance sheet. There are specific posting keys/indicators defined in the system to regulate the postings to these items. You need to specify a Special GL Indicator (such as a F-Down Payment Request, A-Down Payment) for processing such a transaction. And the system will make use of the specially defined posting keys (09-customer debit, 19-customer credit,
29-vendor debit, and 39-vendor credit) for posting these special GL transactions.
There are three types of Special GL transactions:
1.    Free Offsetting Entries (Down Payment)
2.    Statistical Postings (Guarantee)
3.    Noted Items (Down Payment Request)



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