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5 Replies Latest reply: Jan 25, 2011 10:13 AM by Zal Parchem RSS

how to  create new chart of accounts

DEORA MAHIMA
Currently Being Moderated

PLesae advise how do I create  new chart of accounts in SAP-B1

  • Re: how to  create new chart of accounts
    Gordon Du
    Currently Being Moderated

    If it is a brand new DB, you have two options under Admin - System Init.: User-Defined or Standard.

     

    If you just want to add one account, go to Financials - Chart of Account. Then select Data-add.

     

    Thanks,

    Gordon

  • Re: how to  create new chart of accounts
    Rahul Moundekar
    Currently Being Moderated

    Hi.......

     

    You can create chart of accounts and for that please go to Financials--> Edit Charts of Accounts.

    Select the head under which you want to create and then select the account head at which level you want that account to be created and then just put the Account code and name and press add button.

    Here your chart of accounts will be created......

     

    Regards,

    Rahul

  • Re: how to  create new chart of accounts
    Narottam Das
    Currently Being Moderated

    I recommend using one of the existing standard charts of accounts (on creation of a SAP B1 Company) and adapting it to the companyu2019s needs as required. Defining the entire chart of accounts is a long, complex procedure.

  • Re: how to  create new chart of accounts
    Rupa Sarkar
    Currently Being Moderated

    Hi Mdeora,

    Do u want to create COA all from scratch or just want to edit the existing one as per your need?

    Regards,

    Rupa

  • Re: how to  create new chart of accounts
    Zal Parchem
    Currently Being Moderated

    Hello Mdeora...there are several parts to creating a Chart of Accounts...

     

    1.  Get with your finanical person and review what they currently have now.  Make sure you understand the segments of the Accounts correctly (in SAP B1 you can have up to ten segments).

     

    2.  Have your financial person provide you with a print out of the Chart of Accounts.

     

    3.  In SAP B1 indicate on your Company Details that you will be using "User-Defined" Chart of Accounts and make sure you create the Posting Periods correctly.

     

    4.  With Administration > System Initialization > General Settings > Display Tab indicate the type of seperator you want between the segments.

     

    5.  Create Account Segments by following the path Administration > Set Up > Financials > Account Segmentation.  Do not forget to make at least one code in each segment a reporting segment (usually zeros) for all the levels.

     

    6.  Start creating the Chart of Accounts by going to Financials > Account Code Generator and start creating your levels and account codes there.  Then it is a matter of using Financials > Chart of Accounts and Edit Chart of Accounts to set the proper levels and types of accounts (title, active, etc)...

     

    How long does this take?  You can estimate a minute for each GL Account which needs to be entered.  I can do about two per minute but that is only due to the fact I have quite a bit of experience, but I would say one minute for someone who is new to the process.

     

    Make sure you read your user guide on the Configuration of Initial Settings and also the user guide with covers GL Account Determiniation...

     

    Regards and Good Luck - Zal

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