Asset Reconciliation Account Posting ABF1L- No OAMK, OASV

Objective

Purpose of this blog is to share the knowledge of transaction code ABF1L. Most of the consultant or user are unaware of this transaction code in Asset Accounting. They end up using OAMK transaction to open the Asset GL account and complete the posting. After this document, there would be no need to use OAMK transaction for posting in Asset Reconciliation Account.

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1. Go to Transaction code ABF1L. Input values in required field in your screen. Below are the values provided for reference. Document type and Ledger group will determine the posting. If you select 0L ledger and 0L as ledger group, it will post only 0L ledger. For non-asset GL, posting key 40 or 50 to be used. If you put 70 or 75, system will show error because this are not reconciliation account.

2. In next screen, most important thing is to use correct posting key i.e. 70 or 75. This posting key is to be used for Asset Reconciliation account. If you put 40 or 50 posting key, system will show error. Use correct posting key as shown in below screen.

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3. Press enter. If all values are correct in above steps, it will take you to next screen.

4. Click on SAVE button and document in Asset Reconciliation accounts are posted.

With this document you should be able to post the entries in FI for Asset reconciliation Account. This document will be helpful mostly at time of data upload or posting any month end or year end adjustment entries.

Regards

CA Zunaid Hingora

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