A balance sheet and profit and loss account can be extracted for Company Code which is the basic organizational unit in SAP FI (Financial Accounting)
Company code is the bare minimum structure required for a SAP system. We will create company code 1100 (XYZ LTD) which is located in country USA.
For configuring Company code we will use the following path on the SAP application screen:
Transaction Code
SAP Manu -> Tools -> Customizing -> IMG -> SPRO – Edit Project
SPRO
Configuration for all the modules will be done here. The above path will not be referred henceforth; we will directly refer to the IMG node.
IMG -> Enterprise Structure -> Definition -> Financial Accounting -> Define, Copy, Delete, Check Company code.
Double click on edit company code
Whenever you select the second option Edit Company Code data you have to configure all the subsequent assignments manually.
When the first option is selected all the configuration and tables get copied automatically along with assignments. In the cases of rollouts this option can be selected.
In the company option you need to click on Copy text (JV line item) to copy a company code from an existing company code. You can copy from existing company code delivered by SAP.
A four-character alpha-numeric key as the company code key can be selected. This key identifies the company code and must be entered when posting business transactions or creating company code-specific master data, for example.
With the help of following SAP tutorial material we will cover the Financial Accounting configuration from its roots and rather than copying it from a prevailing SAP company code.
Click on New Entries and update the following required fields.
Ideally, In a SAP system the company code should be always kept numeric.
Country
This field is for the purpose that where the concerned company code is located and the balance sheet and income statement which will be prepared according to that particular country’s law. In our present case the company is located in USA, so we have selected the country id Us (USA).
Currency
This field represents the local reporting currency of the country. In this case it is USA (US Dollars) since the company is located in USA.
Click on Address and update the following fields.
Click Enter Key (Enter/Continue)
Click Save (Key) to save entry.
In this way company code 1100 is created in SAP.
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