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)



Please click on the question to find the answer





Please share some more questions which your looking for i will incorporate it and add in this list 

No comments:

Post a Comment