Define Chart of Accounts
Chart of Accounts
Chart of accounts is a comprehensive list of ledger accounts created in an organized way to record, process and manage transactions. It groups accounts into specific types of balances (assets, liabilities, equity, etc.), and provides a framework for the organizational, reporting, and regulatory structure for accounting identities within entities.
Create Chart of Accounts
Navigation Path
Step 1
Go to Sap Menu -> Type in search bar - > SPRO ->Click on Sap Ref.Img.
SPRO - Financial Accounting - General Ledger Accounting - G/L Accounts - Master Data - Preparations - Edit Chart of Account List.
Step 2
Click on New Entries
Step 3
Enter Required Details
Chart of Account: IN49
Description: Chart of Account for Company IN49
Maintain Language: English
Length of G/L Account Number: 6
Click on Save.
To be Continued...