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What Is Reconciliation Account; Can You Directly Enter Documents In That A/c? |
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Answer» When you post ITEMS to a SUBSIDIARY LEDGER, the SYSTEM automatically posts the same data to the general ledger. Each subsidiary ledger has one or more reconciliation accounts in the general ledger. We can’t use reconciliation account for direct postings. When you post items to a subsidiary ledger, the system automatically posts the same data to the general ledger. Each subsidiary ledger has one or more reconciliation accounts in the general ledger. We can’t use reconciliation account for direct postings. |
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