Define General Ledger Account Master Record in SAP
The following steps will guide you how to create General Ledger account in SAP FICO and it can be create at different levels.
Centrally (FS00 – centrally)
Chart of Account level creation (FSP0 – In chart of Accounts)
Company code level creation (FSS0 – In company code)
SAP R/3 Menu Path: – Accounting > Financial Accounting > General Ledger > Master Records > G/L Accounts > Individual Processing > Centrally
Transaction Code: – FS00
Steps to create New General Ledger Account Master Record
Step 1: – In the Edit G/L Account Centrally Screen, update the following entries:
- G/L Account: – Enter the account number of the G/L account which is being created
- Company Code: – Enter the company code ID key
- Choose Create icon to create new general ledger account
Step 2: – After clicking on icon update the following fields
Control in chart of Accounts –
Account Group: – it’s direct the fields for the entry screens, which rule the number of interval in accounts. It must be created GL account. Click the drop down menu and select appropriate account group for the GL account.
P&L Statement account type: – If GL account is for P&L account then select this field
Balance sheet account: – If GL account if Balance sheet account, then select this field
Short text: – Here enter the short description about GL account
G/L account long text: – Enter the long description about GL account
Consolidation data in chart of accounts: –
Trading partner: – it’s select to prepare consolidated financial statements.
Step 3: – Select the “Control Data” tab and update the following
Account control in Company code: –
- Account Currency: – Update the currency in which the account will be managed
- Only Balances in Local Currency: – this area is used to update the balance only in local currency when users post items to this G/L accounts.
- Exchange Rate Differences Key: – Use the drop down Menu and select Exchange Rate Differences Key
- Tax Category: – Use the drop down Menu and choose tax code key if account is tax relevant.
- Posting without tax allowed: – Select the box if posting for the accounts which is without tax
- Account for account type: – Use the drop down Menu and select Asset or Customer or Vendor if account is for Reconciliation account.
- Alternative account number: – it used to indicate the account number from the legacy system
- Tolerance group: – this field is used for open item clearing differences.
Account Management in Company Code: –
Open Item Management: – this field is used when account to be display as per open item lines, and open item management is used only for balance sheet accounts.
Line Item Display: – this field is used when account to be display as per line item
Sort key: – Select drop down menu for appropriate sort key for the account
Step 4: – Now select “Create/Bank/Interest” tab
Control of Document Creation in Company Code: –
Field Status Group: – it’s set up the screen layout for document entry, select drop down button and select appropriate FSG key.
Post automatically only: – check the box if account can posted by the system using account determination table.
Bank/Financial Details in Company code: –
Planning Level: – it’s used to control displays in Cash Management.
Relevant to Cash Flow: – this field is determine that GL account is a cash flow account
House Bank: – Click drop down menu and select if account is indicator for the company bank
Account ID: – this field is determine House Banks of Account
Interest Calculation Information in Company Code: –
Interest Indicator: – Click drop down button and select Interest Calculation indicator if the account is to be included in automatic interest calculation.
Interest calc. frequency: – Click drop down button and select Interest Calculation frequency if the interest is to be calculated automatically for this account at intervals.
Key date of last int. calc: – Click drop down button and select key date of last int. calc that the date of last time interest calculation program processed for this account.
Date of last interest run: – the date of the last interest run calculation for this account
Step 5: – Click on save icon to save the configured entries.