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SAP Chart of Accounts Concept

March 8th, 2009

Chart of Accounts core cocepts in SAP are as follow:

• The Chart of Accounts (COA) is a list of all accounts used in the General Ledger; i.e., B/S and P&L accounts

• At a minimum the COA must have the accounts required to support the statutory reporting requirements and standard account practices. More accounts can be added for more detail and control later

• The COA is assigned to company code in configuration

• Accounts are only to represent the” what” not the “where and what”. The where is captured in the Enterprise Structure.

– For example, an account for “maintenance labour” is incorrect. Account for
“labour” is correct.

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SAP Master Data – General Ledger

March 8th, 2009

 

Here is the list of Master Data of General Ledger Sub Module in SAP

• Chart of Accounts
• Account Groups
• Retained Earnings
• Field Status Groups
• GL Master Data and Maintenance

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SAP General Ledger Core Concepts

March 8th, 2009

SAP General Ledger Core Concepts

• Chart of Accounts

– Sometimes referred to as the “what”
– Describes the nature of an account
– Examples: Sales, Consulting Expense, Accounts Receivable

• Enterprise Structure

– Sometimes referred to as the “where”
– Describes “where” in the enterprise a transaction occurred
– Use multiple objects for different views

• Together they provide the details required to meet the reporting requirements of the Enterprise.

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Different to SAP Financials in mySAP ERP with New GL

March 6th, 2009

There are two different solutions between SAP Classic GL and mySAP New GL.

mySAP New GLClassic GL

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General Ledger and Sub Ledgers

March 6th, 2009

Definition of General Ledger and Sub Ledgers in SAP

• The general ledger is a list of account balances for a specific company. It is used to support legal financial statements and other statutory reports.

• All accounting transactions to a company are recorded in the General Ledger; then, if applicable, P&L transactions are posted through to Controlling module.

• Where it is not practical to list all accounts of a specific category in the GL, e.g., customers, they are totalled and rolled up into one account (reconciliation account). The list of customer accounts (AR) is a sub ledger of the general ledger. Other sub ledgers are vendors (AP), fixed assets, material stock balances, work orders and capital projects.

• Transactions posted to sub ledgers are automatically rolled up into the General Ledger reconciliation
accounts

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