≡ Menu

How to Create G/L General Ledger Account Master Record

Tutorial guides How to Create G/L General Ledger Account Master Record in SAP FICO.

G/L General Ledger Account Master Record can be created at different levels

  • Centrally (FS00 – Centrally)
  • Chart of Account Level creation (FSP0 – In Chart of Accounts)
  • Company Code Level Creation (FSS0 – In Company Code)

SAP R/3 Menu Path :- Accounting > Financial Accounting >General Ledger > Master records > G/L Accounts > Individual Processing > Centrally

Transaction Code :– FS00

 Steps to create New General Ledger Account Master Record

SAP Tutorials

SAP Tutorials

Step 1 :- On the Edit G/L Account Centrally screen, update the following entries:

  1. G/L Account :- Enter the account number of the G/L account that is being created
  2. Company code :- Enter Company code ID Key
  3. Choose Create icon to create a new General ledger Account.

How to Create G/L General Ledger Account Master Record

 

Step 2 :- After click on Create icon update the following fields

Control in Chart of Accounts –

  1. Account Group :- The account group determines the fields for the entry screens .  The account group  determines which number interval the account must be GL account to be created. Click the drop down menu and select appropraite account group for the GL account
  2. P&L statement account type :-  If GL account is for P&L account, select this field
  3. Balance sheet account :- If GL account is for Balance Sheet account, select this field

Description :-

Short text  :- Enter the Short description of the GL Account

G/L acct long text :- Enter the long description of the GL Account.

Consolidation Data in Chart of Accounts

Trading partner :–  Trading Parting partner  is used to prepare consolidated financial statements

How to Create G/L General Ledger Account Master Record

 

Step 3:- Choose the “Control Data” tab and update the following

Account control in Company Code :-

  1. Account currency :-  Update the currency in which the account will be managed
  2. Only Balances in Local Currency :– This field used to update the  balance only in local currency when users post items to this G/L account
  3. Exchange Rate Difference Key :– Use the drop down Menu and select Exchange Rate Difference Key
  4. Tax category :-  Use the drop down menu and choose tax code key if account is tax relevant
  5. Posting with out tax allowed :- Select box if posting for the accounts is without tax
  6. Recon. account for account type :- select the drop down menu and select Asset or Customer or Vendor if account is for Reconciliation account.
  7. Alternative account number :– It may be used to indicate the account number from the legacy system.
  8. Tolerance group :- Select this field for open item clearing differences

Account Management in Company Code :-

9. Open item management :- Select this field if account to be display as per open item lines, open item management is used for only               balance sheet accounts.

9. Line item Display :– Select this field if account to be display as per line item.

10.Sort key :- Select Drop down menu and select appropriate sort key for the account

How to Create G/L General Ledger Account Master Record

 

Step 4:- Select Create/Bank/Interest” tab

Control of Document Creation in Company Code :-

1. Field status group :– FSG determines the screen layout for document entry. select drop down button and select appropriate FSG Key.

2. Post automatically only :- Check box if account can  posted by the system using account determination table

Bank/Financial Details in Company Code :-

3. Planning level :- planning level field is used to control displays in Cash Management.

4. Relevant to cash flow :– Relevant to cash flow field  determines that the GL account is a cash flow account

5. House bank :-  click drop down menu and select if account is Indicator for the company bank

6. Account ID :-  Account ID field determines  House Banks of account

Interest Calculation Information in company code :-

7. Interest indicator :- Click drop drop button and select interest calculation indicator  if the account is to be included in automatic interest calculation.

8. Interest calc. Frequency :– Click drop drpp button and select Interest calc. Frequency if the interest is to be calculated automatically for this account  at intervals

9. Key date of last int. calc :– Click drop drop button and select Key date of last int. calc, that the date of last time interest calculation program processed for this account.

10. Date of last interest run :-The date of the last interest run  calculation for this account

How to Create G/L General Ledger Account Master Record

 

Step 5 :Click on Save icon to save the configured entries.

sapsave