SAP FI General Ledger - SAP FICO

What is a General Ledger in SAP FI?

To record all the business transactions into a software system, SAP FI uses General Ledger.

What is SAP FI Chart of Accounts?

The GI Accounts which are maintained for the daily needs and which are used for operating the country’s legal requirement in a company, are known as FI chart of accounts.

What are the different types of SAP FI Chart of Accounts (COA)?

The Chart of accounts (COA) are divided into the following types −

  • Operating Chart of Accounts − It contains all the General Ledger accounts that are used to meet the daily needs in a company. The operating chart of accounts has to be assigned to a company code.
  • Country Chart of Accounts − It contains a list of all General Ledger accounts that are required to meet the operating country’s legal requirements. You can also assign a company chart of account to the company code.
  • Chart of Accounts Group − This COA group contains a list of all the G/L accounts that are used by the entire company.

How to create a new Chart of Accounts?

A new Chart of Accounts is created by using the T-code OB 13 or by going to Finance Accounting → G/L accounts.

Type the T-code OB13 in SAP Easy Access and it will take to the following screen −

Create New Chart

This window can also be opened by following the path −

T-code SPRO → SAP Reference IMG → Financial Accounting → General Ledger Accounting → G/L accounts → master data → Preparations → Edit Chart of Account Lists → Execute → New Entries to create a new charts of account.

New Entries Create Chart

Choose Controlling Integration as manual creation of cost elements or automatic creation of cost elements. It is always recommended to use Manual creation.

Edit Chart

For the cases like Group Chart of Accounts, report consolidation is used. The blocked checkbox is unchecked under the status tab and the Save option is selected.

All rights reserved © 2018 Wisdom IT Services India Pvt. Ltd Protection Status