Create Chart of Accounts in SAP

Menu Path

IMG -> Financial Accounting -> General Ledger Accounting -> G/L Accounts -> Master Records -> Preparations -> Edit Chart of Accounts List.

Transaction Code is (OB13)

The chart of accounts is a variant which contains the structure and basic information about the general ledger accounts.

We have to create one chart of accounts for each company code in SAP. This chart of accounts is assigned to the company code. One chart of accounts can be used by more than one company codes. These imply that the general ledgers of these company codes can have similar GL structure.

Under here we will define just a chart of accounts code in SAP. The GL codes are not defined here.

Click on New Entries (Key) and update the following fields

We can have controlling integration i.e.

         i.            Manual creation of cost elements or

       ii.            Automatic creation of cost elements.

It is preferable to have manual creation of cost elements in SAP Financial Accounting.

We have to keep in mind that whenever we create a GL code (expense or revenue account) in Financial Accounting, at the same time we’ve to create the cost element (type 1 or 11) in the controlling module of SAP system.

This allows cost to be flown from FI to CO on a cost object in real time.

Click save (Key) to save entry.

This way USCA chart of accounts is created in SAP.

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