How do companies assign a chart of accounts?

You can assign company code to chart of accounts in SAP by using one of the following method.

1. Transaction code: – OB62.
2. Menu Path: – SPRO –> IMG –> Financial Accounting –> G/L Accounting –> GL Accounts –> Master Data –> Preparations –> Assign company code to chart of accounts.

What is a company’s chart of accounts?

A chart of accounts (COA) is an index of all the financial accounts in the general ledger of a company. In short, it is an organizational tool that provides a digestible breakdown of all the financial transactions that a company conducted during a specific accounting period, broken down into subcategories.

How do you create a chart of accounts in SAP?

How to Create Chart of Accounts (COA) Account Group

1. Enter the Chart of Accounts key in which the Account Group is to be created.
2. Enter unique Account Group key.
3. Enter Description for the Account Group.
4. Enter the number range for the G/L account to be created in the Account Group.

What is chart of accounts in SAP?

A chart of accounts is a structure containing the G/L accounts used by one or more company codes. You need to assign a chart of accounts to each company code. This chart of accounts is then the operating chart of accounts and is used for the daily postings in the company code.

How many chart of accounts can a company code have?

We can assign three chart of accounts to a company code.

How do you create a reconciliation account?

How to Create Reconciliation Account in SAP

1. First, you should go to the menu path on the SAP.
2. After you enter the window box, you should create your G/L account.
3. You also need to choose the account group inside the new window box.
4. Then, you need to choose the account currency that is applicable to your business needs.