To record all the business transactions into a software system, SAP FI uses General Ledger.
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.
The Chart of accounts (COA) are divided into the following types −
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 −
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.
Choose Controlling Integration as manual creation of cost elements or automatic creation of cost elements. It is always recommended to use Manual creation.
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.
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