Financial Statement Version is a hierarchical listing and positioning of G/L accounts. It groups together related accounts into financial statement report format (Balance sheet & Income Statement) for the purpose of financial reporting.
The financial statement version is link with the company code through the Chart of Accounts. Note that there should be one chart of account assigned to a company code before transactions can be posted to it. You assign the chart of accounts to a company code in Global Parameters of the company code.
Hereu2019s how to configure a Financial Statement Versions:
Transaction code: OB58
Path: IMG u2192 Financial Accounting (New) u2192 General Ledger Accounting (New) u2192 Master Data u2192 G/L Accounts u2192 Define Financial Statement Versions.
There are five configuration settings that are group together under General Specifications section:
1. Maint. language - determines which language will be used to enter text, display text and print financial statement documents.
2. Item keys auto - If tick, financial statement items are created automatically. Otherwise, financial statement items are entered manually.
3. Chart of Accounts - Enter the Chart of Accounts here which will be the basis of the financial statement version you are creating. The said chart of accounts is assigned to the company code.
4. Group Account Number - If tick, the group account numbers should be assigned instead of the account numbers.
5. Functional Area Permitted - If tick, functional areas can be assigned to the individual nodes of the financial statement versions.
Then click the Financial statement items button to change text of groupings and assign G/L Accounts to each group.
The u201CChange Financial Statement Versionu201D screen appears.
Double click e.g. Liabilities to edit the text and define how the group appears in the financial statement report.
The u201CItem: Change Texts pop-upu201D screen appears:
On the u201CStart of Groupu201D section, you can enter the text that will appear at the start of the group report.
On the u201CEnd of Groupu201D section, you can enter the text that will appear at the end of the group report.
If you want to display total of the group at the report display, activate u201CDisplay Totalu201D check box.