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How to Create New Chart of Accounts in SAP | Chart of Accounts in FICO

This Tutorials guide you how to create chart of accounts in SAP step by step. Let discuss about chart of accounts and types of chart of accounts in SAP

Definition of Chart of Accounts :-

The chart of accounts in SAP ( COA ) is a list of GL accounts master record that are used by the organisation. The master chart of accounts must be assigned to each company code. Chart of Accounts is defined at client level.

Types of Chart of Accounts :-

  • Operating chart of Accounts
  •  Country Specific chart of Accounts
  • Group Chart of Accounts
SAP Tutorials

SAP Tutorials

Operating chart of Accounts :- 

The operating chart of accounts in sap contains the G/L accounts that  uses for posting in company code for daily activities and used in both financial accounting and cost accounting. You have to assign operating chart of accounts to a company code

Country Specific chart of Accounts

The country-specific chart of accounts in sap contains the G/L accounts needed to meet the country’s legal requirements. country specific chart of accounts are assigned to company codes and this is optional.

Group Chart of Accounts :-

The Group chart of accounts in sap contains the G/L accounts that are used by the entire corporate group and this COA is used to consolidate the reports for the entire corporate group

 

we can use the following methods to Create new chart of accounts in SAP 

1. Transaction Code :– OB13

2. SAP Menu Path :- IMG –> Financial Accounting –> General Ledger Accounting –> G/L Accounts –> Master Data –> Preparations –> Edit Chart of Accounts List

Chart of Accounts in sap Configuration Steps:-

Step 1 :-  Enter the Transaction code SPRO in the SAP commend field to get the Implementation Guide

SPRO1

Step 2 :- Click on SAP Reference IMG

How to Create New Chart of Accounts in SAP | Chart of Accounts in FICO

Step 3 :-  Navigate the below Path and click on Edit Chart of Accounts List  to create new Chart of Accounts

How to Create New Chart of Accounts in SAP | Chart of Accounts in FICO

Step 4 :-  The Existing Chart of Accounts which are already created are displayed below, Click on New entries button  to create new Chart of Accounts in SAP

How to Create New Chart of Accounts in SAP | Chart of Accounts in FICO

Step 5 :- Update the  required data in new entries screen

How to Create New Chart of Accounts in SAP | Chart of Accounts in FICO

 

1. Chart of Accounts :- Enter the 4 digit alphanumeric code of the Chart of Accounts

2. Description : Enter the Description of the Chart of Accounts

3. Maintain Language :-  Select the language of the Chart of Accounts

4.  Length of G/L Account Number : Update the length of Gl Account Number

5. Integration :-  We can have controlling Integration Manual creation of cost of elements or Automatic creation of cost of elements. It is advisable to have Manual creation of elements in SAP

6. Consolidation : Enter the Group Chart of accounts for the consolidation of Reports.

7. Status :- Under status Deselect the Blocked Check box.

After updating the required data click on save icon you will get message “Data was saved”

Thus Chart of Accounts in SAP ADAR was created.

Related Interview Questions :-

What is a Chart of Accounts and types of COA ?

What are the Major Components of a Chart of Accounts?