In this topic, we described about the below sections -
Chart of Accounts(COA) is a list of all General Ledger accounts used by one or several company codes. The chart of accounts contains the account number, account name and the information that controls an account functions and a General Ledger account is created in a company code.
Chart of accounts must assign to each company code and is called as operating chart of accounts. These operating chart of accounts is used for the daily postings in this company code. Below options available when using multiple company codes:
- Same chart of accounts for all company codes.
- Using two additional charts of accounts along with the operating chart of accounts.
Charts of accounts(COA) having three different functions in the system: -
- Operating chart of accounts
It contains the General Ledger accounts which can be used for posting in the company during daily activities. Financial Accounting and Controlling both use operating chart of accounts. An operating chart of accounts must assign to a company code.
- Group chart of accounts
It contains the General Ledger accounts that are used by the entire corporate group. It allows the company to provide reports for the entire corporate group. A corporate group chart of accounts assignment to a company code is optional.
- Country-specific chart of accounts
It contains the General Ledger accounts required to meet the country's legal requirements. It allows to provide statements for the country's legal requirements. A country-specific chart of accounts assignment to a company code is optional.
Create Chart of Accounts: -
Below process is to create chart of accounts TCOA (Test Chart of Accounts).
Step-1: Enter the transaction code OB13 in the SAP command field and click Enter to continue.
Enter the transaction code SPRO in the SAP command field and click Enter to continue.
Click on SAP Reference IMG.
Expand SAP Customizing Implementation Guide → Financial Accounting → General Ledger Accounting → G/L accounts → master data → Preparations → Edit Chart of Account Lists. Click on Execute.
Step-2: In the next screen, click on New Entries.
Step-3: Enter the below details in the next screen.
- Chart of Accounts – Enter 4-digit alphanumeric Chart of Accounts Code
- Description – Enter the Chart of Accounts Description
- Maint.lnguage – Specify Chart of Accounts Language
- Length of G/L Account Number – The company requirement is to maintain the G/L accounts of length 6. Specify the maximum length as 6
- Controlling integration – Select integration between G/L accounts and cost elements
- Group Chart of Accounts – Specify the chart of Accounts Group
Step-4: Once all the details entered, click on Save button to save the details.
Step-5: It prompt for the Change Request. Create/Select the change request and Click on right mark to proceed.
Step-6: Status bar displays the below message once the chart of accounts created successfully.
Technical Information: -
- Transaction Code: - OB13
- Navigation path: - SPRO → SAP Reference IMG → SAP Customizing Implementation Guide → Financial Accounting → General Ledger Accounting → G/L accounts → master data → Preparations → Edit Chart of Account Lists