Provide the information & examples of how to create general ledger account & its groups?

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The central task of G/L accounting is to provide a comprehensive picture for external accounting and accounts. Recording all business transactions (primary postings as well as settlements from internal accounting) in a software system that is fully integrated with all the other operational areas of a company ensures that the accounting data is always complete and accurate.

Before creating the B/L u have to design the Chart of Accounts (COA):

COA  is a list of all G/L accounts used by one or several company codes.

For each G/L account, the chart of accounts contains the account number, account name, and the information that controls how an account functions and how a G/L account is created in a company code.

You have to assign a chart of accounts to each company code. This chart of accounts is the operating chart of accounts and is used for the daily postings in this company code.

You have the following options when using multiple company codes:

You can use the same chart of accounts for all company codes If the company codes all have the same requirements for the chart of accounts set up, assign all of the individual company codes to the same chart of accounts. This could be the case if all company codes are in the same country.

In addition to the operating chart of accounts, you can use two additional charts of accounts If the individual company codes need different charts of accounts, you can assign up to two charts of accounts in addition to the operating chart of accounts. This could be the case if company codes lie in multiple countries.

The use of different charts of accounts has no effect on the balance sheet and profit and loss statement. When creating the balance sheet or the profit and loss statement, you can choose whether to balance the company codes which use different charts of accounts together or separately.

Charts of accounts can have three different functions in the system:

Operating chart of accounts:

The operating chart of accounts contains the G/L accounts that you use for posting in your company code during daily activities. Financial Accounting and Controlling both use this chart of accounts.

You have to assign an operating chart of accounts to a company code.

Group chart of accounts:

The group chart of accounts contains the G/L accounts that are used by the entire corporate group. This allows the company to provide reports for the entire corporate group.

The assigning of an corporate group chart of accounts to a company code is optional.

Country-specific chart of accounts:

The country-specific chart of accounts contains the G/L accounts needed to meet the country's legal requirements. This allows you to provide statements for the country's legal requirements.

The assigning of an country-specific chart of accounts to a company code is optional.

You can find the function for creating G/L account master records in Financial Accounting Customizing under General Ledger Accounting -> G/L Accounts -> Master Data -> Creating G/L Accounts.

Create your G/L accounts. 

You have two options:

If you want to use a chart of accounts included in the standard system as a reference, or if a chart of accounts is already in your system, use the create with reference method. To do this, use the Create G/L Accounts with Reference activity.

You can copy the G/L accounts and the related account assignments. Before creating the G/L accounts, you can change the account numbers and names.

If you have G/L accounts in a non-SAP system, you can transfer these G/L accounts to your SAP System. To do so, select the Data Transfer Workbench.

You can modify the G/L account master records that were created or transferred. 

The following functions are available for doing this:
You can carry out systematic changes to multiple G/L accounts, such as changing the P&L account type of several P&L accounts. To do so, select the desired function under Change G/L Accounts Collectively. 

You can change the master record of a single G/L account. To do so, select the desired function under Edit G/L Account.

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