Big4Guy

In SAP General Ledger, a chart of account is a list of all G/L accounts used by one or several company codes. The chart of account contains the account number, account name and information that controls how an account functions for each of the G/L accounts.

To configure the chart of accounts, a chart of accounts has to be assigned to each company code. Such a chart of account is normally used for daily postings. In case one is using multiple company codes, one can use the same chart of accounts for all the company codes or use additional chart of accounts for each company code. Normally, if all company code lie in the same country, option of using same chart of accounts is feasible. On the other hand, in case company codes lie in different countries, a country specific chart of accounts can be used. SAP provides three functions for chart of accounts namely.

Operating Chart of Accounts - This chart of accounts contains G/L accounts used for daily posting.

Group Chart of Accounts - This chart of accounts contains G/L accounts used by entire corporate group.

Country Specific Chart of Accounts - This chart of accounts contains G/L accounts which are required to meet country specific legal requirements.

Related Posts

Organization Structure in SAP FICO
GR/IR Account Clearing in SAP MM
Parked Documents Vs Held Documents in SAP
Master Data Controls in SAP