6 Replies Latest reply: Sep 24, 2008 10:26 AM by Lo'ai Ghanadreh RSS

Chart of Accounts

samuel sukumar
Currently Being Moderated

hi,experts,

 

My doubt is 3 chart of accounts are needed for every company code or not. please tell me.

  • Re: Chart of Accounts
    Srinivasa Maruvada
    Currently Being Moderated

    Hi

     

     

    No...It is not require to have a 3 chart of accounts by any company code and one chart of account also sufficient.

     

    Srinivas

    • Re: Chart of Accounts
      Sridhar Reddy Vuyyuru
      Currently Being Moderated

      Chart of Accounts

      ChA is a directory of G/L accounts . It is a variant which contains the structure and

      basic information about general ledger accounts. We can modify the chart of accounts to

      fit our requirements (for e.g. global, industry-specific, or country-specific) There 3 kinds

      of ChA. Namely: Operational, Group, Country chart of accounts.

       

      Operational Chart of Accounts - I guess everybody knows about this, without this there is no account in company code.

      Group chart of Accounts ?

      For internal purposes, cross-company code reporting may be useful, for example, financial statements that contain the items of several company codes. This is no problem as long as all company codes use the same chart of accounts. However, some company codes may have to use special chart of accounts because of legal requirements. In that case we use Group chart of accounts for cross-company code reporting. We assign this Group Ch Account number for each G/L account. If you give Group chart of accounts number here i.e. in chart of accounts creation list OB13, the group a/c number field in the

      chart of accounts segment i.e. FSP0 of the operational chart of accounts becomes required entry field.

       

      Country chart of Accounts (Alternative Account Number) ?

       

      This is used for inter-company code controlling. An alternative to using a group chart of

      accounts is to use country chart of accounts.

      Hint: This ?alternative account number? is entered in every company code segment.

      Group chart of accounts will be given in OB13 (chart of accounts creation) screen.

       

      And Finally -> As somebody answered your question ...

       

      operational -- it is used for day to day transactions it is mandatory

      country -- it is for taxation purpose it is optional

      group -- it is for consolidation purpose it is optional

       

      Hope it helps!

      Sridhar.

  • Re: Chart of Accounts
    Phaneendra Reddy
    Currently Being Moderated

    hi

     

    3 types of chart of accounts provided by sap

     

    operational chart of account -- it is used for day to day transactions it is mandatory

     

    country chart of account-- it is for taxation purpose it is optional

     

    group of chart of accounts-- it is for consolidation purpose it is optional

     

    Thanks & Regards

    phaneendra

  • Re: Chart of Accounts
    Arun R
    Currently Being Moderated

    Hi,

     

    A chart of account is the place where u r  going to arrange your general ledgers in accordance with some specifications like account group & numbering

     

    The single chart of accounts can be used by different company codes provided they use similar GL

     

    The chart of accounts are of three type

     

    1. Operating - used in both financial accounting and cost accounting ( mandatory )

    2.Country Specific - structured in accordance with legal requirements of the country

    3.Group Chart Of Accounts - structured in accordance with requirements pertaining to Consolidation

     

     

    It is mandatory that at least one chart of account should be assigned to a company code

     

    Thanks & Regards

     

    Arun

     

    Edited by: Arun R on Aug 28, 2008 9:12 AM

  • Re: Chart of Accounts
    Kavitha Emani
    Currently Being Moderated

    Hi

     

    SAP provides with 3 types of COA:

     

    1)Operational COA

    2) Country-specific COA

    3)Group COA

     

    It is not mandatory to have all the COA.

     

    However an Operation COA is to be maintained for the company code, to record all transactions of the company. This COA is manadatory.

    If there are multiple company codes in the company a Group chart of acounts and Country chart of accouts can be maintained. These are optional.

     

    I hope this helps.

     

    Regards

    Kavitha

  • Re: Chart of Accounts
    Lo'ai Ghanadreh
    Currently Being Moderated

    Hi,

     

    Need to verify the following:

     

    Telecom business: We must enable bookeeping in 2 chart of accounts (common chart of account and mandatory). can you please explain what are the difference between the two and can you please send a model for both (telecom related would be highly appreciated).

     

    Thanks,

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