Accounting chart

CHART OF ACCOUNT

Chart of account is the list of all GL account used in one or more company codes for recording the business transaction. For each GL account, the chart of account contain the reference number (account number), account name and other technical and functional detail.

Types of chart of account

v  Group Chart of Account: it is used for consolidation purpose all company codes with dissimilar operative chart of account falling under a company, it is also known as Corporate chart of account.

v  Country Chart of Account: it contains the GL accounts to meet the specific statutory or legal requirements of a company from where a company code operates. Country charts of accounts other wise known as Alternate Chart of account.

v  Operative chart of account: A chart of account must be assigned to each of the company codes and this chart of account is using for maintain the regular activities of the company.

Operating chart of account settings

Path: Spro → Img → Financial accounting → General ledger accounting → General ledger accounts → Master data → Preparation

A)   Edit chart of accounts list (OB13)

Path: Same

           

Click on new entries

Chart of account – CHAC (any 4 code)

Description – Operating Chart of Account

Maintain language – English

Length of GL account number – 8 (maximum)

Press enter key and save.

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B)    Assign company code to chart of account (OB62)

Path: Same

Click on position

Company code – TAST

Chart of account – CHAC

Press enter key and save

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Define Account Group (OBD4)

Path: Same

Click on new entries

Chart of account	Account group	Name	From account	To account
CHAC	LI	Liabilities	100001	200000
CHAC	AS	Assets	200001	300000
CHAC	IN	Incomes	300001	400000
CHAC	EX	Expenses	400001	500000

Press enter key and save

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Define Retained Earnings Account (OB53)

Path: Same

Assign chart of account – CHAC

P&L Statements	Accounts
X	100001

                                   

Press enter key two times and ignore the warning message.

Click on save. Come back

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