Chart of Account in General Ledger Accounting SAP FICO

Chart of Accounts

Definition:

Key that uniquely identifies a chart of accounts.

A classification scheme consisting of a group of general ledger (G/L) accounts.

A chart of accounts provides a framework for the recording of values to ensure an
orderly rendering of accounting data. The G/L accounts it contains are used by one or
more company codes.

For each G/L account, the chart of accounts contains the account number, the account
name, and technical information.

A chart of accounts must be assigned to each company code. This chart of accounts is
the operative chart of accounts and is used in both financial accounting and cost
accounting. Other charts of accounts include:

o Country-specific charts of accounts - These are structured in accordance with legal
requirements of the country in question

o Group chart of accounts - This is structured in accordance with requirements
pertaining to Consolidation.

Chart of Accounts

The Definition of chart of account contains:
- Char of accounts key
- Description

General Information
- Maintenance Language
- Length of the G\L account number

Controlling Integration
- Manual or Automatic creation of cost element

Consolidation
- Group chart of accounts

Status
- "Blocked" indicator


Types of Chart of Accounts
- Group Chart of account
- Country-specific chart of account


Define Chart of Accounts

Menu Path: IMG – Financial Accounting – General Ledger Accounting – General Ledger Accounts –
Master Records – Preparation – Edit Chart of accounts list
T Code : OB13


Steps:
Click ‘New Entries’
1. Enter 4 digit code
2. Enter Description
3. Enter Language
4. Enter Length of GL
5. SAVE the settings



Assign Company Code to Chart of Accounts
Menu Path: IMG – Financial Accounting – General Ledger Accounting – General Ledger Accounts –Master Records – Preparation – Assign Company Code to Chart of accounts
T Code : OB62



Steps:
1. Click ‘Position’
2. Enter Co. Code
3. Enter CoA Code
4. SAVE the settings