Chart of Accounts is set of Accounts or Account Group.
Structure of Account creation: Chart of Account>Account Group> Accounts
This is a list of all general ledger used by one or several company code. For each GL account it contains the account number, account name and the information that controls how an account functions and how a GL account is created in the company coed. The same chart of accounts has to be assigned one or more company codes.(Its operating chart of accounts)
Operating Chart of Accounts:
The chart of Accounts contains the GL accounts that you use for posting in the company code during daily activities. Financial Accounting and Controlling both use this chart of accounts.
Group Chart of Accounts:
The group chart of accounts contains the GL accounts. That is used by the corporate group. The assignment of group chart of accounts to company code is optional.
Country specific chart of Accounts:
The country specific chart of accounts contains all GL accounts needed to meet the country’s legal requirement. This is allows you to provide statements for the country’s legal requirement (It is optional).
Create Chart of Accounts
Path: SPRO >Financial Accounting>General Ledger Accounting>G/L Accounts>Master Data>Preparations>Edit Chart of Accounts List
- Select IMG Activity button T-code: OB13
- Click on New Entries Button
- Chart of Accounts : SSCL
- Description : Chart of Accounts for SSCL
- Maint. Language : English
- Length of G/L account Number : 6 max10 (we are taking 6 digit)
- Controlling integration : Manual creation of cost element
If we go for the second option we define group chart of account We are follow 1st option Click on save button and press the enter to save in your request. We get a message Data was saved.
Assign the company code to Chart of accounts
Path: SPRO>Financial Accounting>General Ledger Accounting>G/L Accounts>Master Data>Preparations>Assign Company Code to Chart of Accounts
- Select IMG activity button T-Code: OB62
- GO to Position button
- Select Company code(SSCL) from drop down enter
- Select Chart of account from drop down SSCL
- save press enter to save in your request. We get a message Data was saved.