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General Ledger Master Records

1) There are 3 steps to create and use a chart of accounts (COA)
a) Define COA
b) Define the properties of the COA
c) Assign the COA to Company codes.
2) The COAs is a variant that contains the structure and the basic information about general ledger
accounts.
3) The Definition of COA contains

a) Four digit COA key.
b) COA Name.
c) Maintenance language,
d) Length of the G/L Account number.
e) Integration with Controlling (CO) Manual/Auto creation of Cost Elements.
f) Group Chart of accounts.
g) Status Block indicator.
4) Length of G/L accounts can be from 1 to 10 digits.
5) One COA can be assigned to several company codes.
6) GL Master contains COA segment and Company code segment.
7) The Information entered in the COA segment for a G/L account applies to all company codes using
that COA.
8) The Chart of account segment contains following details:

i) Type/Description - Account group.
- P/L or Balance sheet item.
- Description Short/Long text.
- Group Chart of Account G/L. no.
ii) Key word Translation. Key words in COA
- Translation.
iii) Information - Info in COAs
- G/L text in COA.s
9) The Company code segment of G/L master contains:

Only bal in
a. Control Data. Account Control local currency, Exchange rate diff, Tax Category.A/c Management
in Company code.- Open/Line item management,
b. Bank interest
c. Information.
10) Account Group Controls - Number ranges of the account.

- Status of fields in the company code segment of the master record.
11) Field status has following properties - Hide.

- Display.
- Required entry.
- Optional entry.
12) Fields displayed in G/L account master record are controlled by:
a. Account group
b. Transaction specific controls (Create/Change/Display).
13) Field status group assigned to a G/L codes in Company code segment is to control the field status
of the financial transaction entered in that G/L account.
14) While creating Reconciliation account G/L master Reconciliation a/c type needs to be assigned
i.e. D Accounts receivable or K Accounts payable
15) You cannot post amounts directly to reconciliation accounts.
16) You can only activate or deactivate open item management if the account has a zero balance.
17) If the account currency is the local currency the account can be posted to in any currency.
18) Account in Foreign currency as account currency can only be posted to in that foreign currency.
19) The group chart of account is assigned to each operational chat of accounts. If this is done
Group account number in COA segment of the Operational COAs is a required entry field.
20) Country COA/Alternative COA number is entered in company code segment. This makes
alternative G/L a/c field in Company code segment of the G/L master record a required entry.
21) Different accounts of one operational COAs can refer to the same group g/l account. However
one country chart of a/c GL code can be referred to only one operational GL a/c. Every country chart
of accounts number can only be used once.
22) If all the companies are using the same operational COA then consolidation is possible otherwise
Group COA is used for Consolidation.
23) G/L accounts with open line item management must have line item display activated.
24) GL account number ranges are always external where as for customer/vendor it can be internal
as well as external number assignment.
25) For Cross company code controlling, companies must use the same chart of a/cs.
26) Number intervals for G/L account master data can overlap.
27) The fields Account currency and Field status Group are always required entry fields. This
status cannot be changed.
28) Reconciliation accounts are general ledger accounts assigned to the business partner master
data to record all transactions in the sub ledger.
IMG: Financial A/cing>G/L A/cing>Master records>Preparations >Additional Activities>Define screen

layout for each transaction 9Create/Change/Delete)

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General Ledger Master Records

3) The Definition of COA contains

4) Length of G/L accounts can be from 1 to 10 digits.

5) One COA can be assigned to several company codes.

6) GL Master contains COA segment and Company code segment.

8) The Chart of account segment contains following details:

9) The Company code segment of G/L master contains:

10) Account Group Controls - Number ranges of the account.

11) Field status has following properties - Hide.

15) You cannot post amounts directly to reconciliation accounts.

IMG: Financial A/cing>G/L A/cing>Master records>Preparations >Additional Activities>Define screen

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