How to use FAIR05 - Reconciliation Inv. Ledger - G/L

SAP Transaction Code - Details

• Transaction Code: FAIR05

  Description: Reconciliation Inv. Ledger - G/L

  Release: ECC 6 only

• • Program: CON_FIN_COMPARE_BALANCES

    Screen: 1000

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Smart SAP Assistant

• SAP Tcode: FAIR05 - Reconciliation Inv. Ledger - G/L

   Accts
  
  Overview: 
  FAIR05 is a SAP transaction code used to reconcile the inventory ledger with the general ledger accounts. This process helps to ensure that the inventory ledger and the general ledger are in agreement and that all transactions are properly accounted for. 
  
  Functionality: 
  The FAIR05 transaction code allows users to compare the inventory ledger with the general ledger accounts. It provides a detailed report of any discrepancies between the two ledgers, allowing users to quickly identify and correct any errors. The report also provides a summary of the differences between the two ledgers, making it easier to identify any potential issues. 
  
  Step-by-step How to Use: 
  1. Access the FAIR05 transaction code in SAP. 
  2. Enter the company code and fiscal year for which you want to reconcile the inventory ledger and general ledger accounts. 
  3. Select the reconciliation type (e.g., inventory, sales, etc.). 
  4. Select the reconciliation period (e.g., month, quarter, etc.). 
  5. Select the reconciliation method (e.g., manual or automatic). 
  6. Run the report and review any discrepancies between the two ledgers. 
  7. Make any necessary corrections to ensure that both ledgers are in agreement. 
  8. Save your changes and exit the transaction code. 
  
  Other Recommendations: 
  It is recommended that users regularly reconcile their inventory ledger with their general ledger accounts using FAIR05 in order to ensure accuracy and prevent any potential errors or discrepancies from occurring in their financial records. Additionally, users should be sure to review any discrepancies identified by FAIR05 and make any necessary corrections in order to maintain accurate financial records.