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G/L Accounting | SAP FICO
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This tutorial by Uplatz will help you understand the structure of SAP general ledger account (SAP G/L Account), how to maintain a general ledger account, understand the functionality of reconciliation accounts, understand the difference between balance sheet and profit and loss statement accounts and comprehend account management in general ledger (G/L).
General Ledger (G/L) accounts are used to provide a picture of external accounting and accounts and to record all the business transactions in a SAP system. This software system is fully integrated with all the other operational areas of a company and ensures that the accounting data is always complete and accurate.
An SAP general ledger account is an account that is updated each time a user posts a financial transaction in SAP system. These accounts are used to come up with financial statements for internal and external reporting. In SAP, a general ledger account is identified with a number having from 1 to 10 digits. SAP general ledger accounts constitute master data in general ledger accounting. A collection of all general ledger accounts used by a company is called a chart of accounts in SAP. The chart of accounts contains the structure and basic information of a general ledger account. A complete general ledger account consists of the following segments:
· A chart of accounts segment
· At least one company code segment
· A chart of accounts segment
· At least one company code segment
The chart of accounts contains basic information about accounts. This information is summarized in a chart of accounts segment. The chart of accounts segment of a general ledger account contains information about the account number, the name of the account, control fields and consolidation fields. The information that a user enters in the chart of accounts segment for an SAP G/L account applies to all company codes.
To use an account from the assigned chart of accounts in your company code, a user must create a company code segment for the account. The combination of the chart of accounts segment and the company code segment form a complete general ledger account. The information in the company code segment controls the entry of accounting documents and the management of accounting data. SAP G/L account can have several company code segments.
When maintaining SAP G/L accounts there are two ways. The first one is when the user creates the chart of accounts segment and the company code segment separately. The account will be considered complete and ready for use when the chart of accounts and company code segments have been created. The transaction code for maintaining general ledger master records centrally is FS00. When you start this transaction you need to specify general account number and specify the company code and then click on the Create icon or Create with Template icon.