The following tutorial will guide you how to create a Chart of Accounts in SAP by step by step. Now discuss about charts of accounts and types of charts of accounts in SAP.
Definition of Chart of Accounts : – It’s a list of General Ledger accounts master record which is used by organization and its must be allot to each company code. The charts of accounts is defined at client level.
Types of Charts of Accounts: –
- Operating chart of accounts
- Country specific chart of Accounts
- Group chart of Accounts
Operating Chart of Accounts: – In SAP it contains General Leger Accounts which is used for posting daily activities in company code and also used for both financial accounting and cost accounting. You have to assign Operating chart of accounts to a company code.
Country Specific Chart of Accounts: – In SAP its contains General Ledger Accounts which is needed to meet country legal requirements. Country specific chart of accounts are assign to company codes and it’s optional.
Group Chart of Accounts: – In SAP its contains General Ledger Accounts which are used by entire corporate group and this Group chart of accounts is used to connect the reports for the entire corporate group.
So by using the following method you can create new charts of accounts in SAP
- Transaction Code: -OB13
- SAP Menu Path: – IMG – > Financial Accounting – > General Ledger Accounting – > G/L Accounts -> Master Data – > Preparations – > Edit chart of accounts list
Chart of Accounts in sap configuration steps: –
Step 1: – Enter the transaction code SPRO in the SAP commend field to get the implementation guide.
Step 2: – Click on SAP Reference IMG
Step 3: – Navigate the below path and click on Edit Chart of Accounts List to create new chart of Accounts
Step 4: – The Existing Chart of Accounts which are already created are displayed below, now click on new entries button to create new chart of Accounts in SAP.
Step 5: – Update the required data in new entries screen.
- Chart of Accounts: – Enter the 4 digits alphanumeric code for the chart of Accounts
- Description: – Enter the description of the charts of Accounts
- Maintain Language: – Select the language for chart for Accounts
- Length of G/L Accounts Number: – Update the length of GL account number
- Integration: – we can have controlling Integration Manual creation of cost of elements or Automatic creation of cost of elements. It is advisable to have Manual creation of cost of elements in SAP.
- Consolidation: – Enter the Group Chart of Accounts for the consolidation of reports.
- Status: – Under the status deselect the Blocked Checked box.
After updating the required data click on save icon, then you will get message “Data was saved”
So, finally the chart of Accounts in SAP ADAR was created.