Introduction
The SAP FI chart of accounts represents the list of the company’s GL accounts used to meet the daily needs and legal requirements of a company in the country in which it operates. Master charts of accounts are assigned to each company code.
Types of Chart of Accounts (COA):
Chart of accounts are classified into three categories:
- Operating Chart of Accounts: It contains all General Ledger accounts that a business needs to operate on a daily basis.
- Country Chart of Accounts: This document lists all General Ledger accounts that have to comply with the legal requirements of the operating country.
- Chart of Accounts Group: The COA group contains a list of all the G/L accounts that are used throughout the organization.
How to create a new Chart of Accounts?
First Approach: T-code: OB13
1. Go to T-code OB13 or Finance Accounting -> G/L Accounts.
2. Click on New Entries and create a new Chart of Accounts.
Second Approach: T-code: SPRO
Path to create a new Chart of Accounts: SPRO → SAP Reference IMG → Financial Accounting → General Ledger Accounting → G/L accounts → master data → Preparations → Edit Chart of Account Lists → Execute → New Entries to create a new chart of accounts.
NOTE: Controlling integration is used for manual creation of cost elements or automatic creation of cost elements. Group Charts of Accounts are used to consolidate reports.
How to define a Chart of Accounts Group?
In order to manage and control a large number of G/L accounts effectively, you should use COA groups.
First Approach: T-code: OBD4
Second Approach: T-code: SPRO
Path: SPRO → SAP Reference IMG → Financial Accounting → General Ledger Accounting → G/L Accounts → Preparations → Define Account Group → Execute → New window will open → New Entries.
1. Go to Define Account Group
2. Click on New Entries
3. Provide details
4. Click on Save Configuration
