SAP Master Data – GL (2)

March 8, 2009 by mySAP
Filed under: General Ledger Module

Let start in more detail of master data of general ledger in SAP.

Account group

Validates the number range and determines the screen layout (which fields are mandatory / optional / suppressed) when creating a GL account in SAP.

Account currency

Determines the allowable currency for the account:

   – Local: Account can be posted to in any currencies. Foreign amounts that are posted are converted to local
currency
   – Foreign: Account can be posted to in ONLY the nominated foreign currency
   − Balance in Local Currency: determines whether a foreign exchange gain or loss will be posted when clearing in different currencies (must be an open item-managed account).

Tax category

Determines allowable tax code for the account
• Can be specific tax code or can be group of tax codes.

For example;
1. tax code “X1″: account should be posted with tax code X1 (Note: X1 is configurable)
2. “+”: only output tax allowed (tax on goods sold; i.e., assign to revenue accts)
3. “-”: only input tax allowed (tax on goods bought; i.e., assign to expense accounts)
4. “*”:all tax types allowed

• Posting without tax allowed option setting

Reconciliation account

Defines it as roll-up account from either AR, AP, or asset sub ledgers and prevents it being posted to directly

Line item display

Allows the individual entries posted to the account to be displayed rather than just the account balance

System allows this setting to be changed; however, line items will only be available for documents posted when the line item display indicator is checked

Open item management

Used to help with reconciling an account balance. Accounts with this option have each entry flagged as either open or cleared item.

Cleared items are a group of debit and credit entries that have been linked together as their total is zero. All clearing accounts need open item management switched on; e.g., bank clearing

• As long as the account has any balance; i.e., has some accounting postings to it, system does not allow this setup to be changed
• Only applicable to balance sheet accounts
• Line item display must also be activated on the account
• Cannot be a reconciliation account

Automatic posting

Accounts with this option could not be directly posted to that the postings should be generated automatically from sub-modules; i.e., reconciliation accounts

Supplement for automatic postings

Indicates line items that are generated automatically by the system for this account can be supplemented manually

Sort key

Determine default entries in the Assignment field for the account line items for additional reference/informational purpose