Week 4 - Financial Accounting in R/3Part 1 (General Ledger (Account…
Week 4 - Financial Accounting in R/3Part 1
support specific general ledger accounts. Used for a/cs that require more detailed information.
Chart of Accounts
Each general ledger is set up according to a Chart of Accounts
Country specific chart of accounts
Group (or Corporate) chart of accounts
consolidates all the operating chart of accounts
Operating chart of accounts
used by a company code.
for Trade Payables found in GL
Assign GL acc to SL creditor
Assign recon. acc. type : vendors
Create GL Account
General Ledger reconciliation accounts cannot be posted directly to, rather the posting must be made in the subsidiary ledger.
individual accounts, grouped according to account types: E.g. expense, cost of goods sold accounts, revenue, etc.
GL account master
chart of accounts
segment and a
A G/L master record must be created for every account to which a
is to be made.
list of G/L master records is called the
Chart of Accounts.
Asset - Dr
Liability - Cr
Equity - Cr
Expense - Dr
Revenue - Cr
Open Item Management
used to assign
accounts such as
goods receipt/invoice receip
t are managed as