Get Quick Reference Guide: Financial Accounting With Sap - Sap-press - Sap-press

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Account Code – The element of the Chart of Accounts that represents the balance sheet, revenue, expense or transfer code. The six character/digit code is used to identify what the funds have been spent for or what kind of revenue was earned.

You can assign company code to chart of accounts in SAP by using one of the following method. Transaction code: – OB62. Menu Path: – SPRO –> IMG –> Financial Accounting –> G/L Accounting –> GL Accounts –> Master Data –> Preparations –> Assign company code to chart of accounts.

The SAP FI module is the most popularly used module for financials and accounting. Diverse accounting tasks such as maintaining ledgers, balance sheets, and profit and loss statements etc., are managed automatically by SAP ERP solutions.

Firstly, you need to enter TCode OB62 in the SAP command field area and go ahead. Next, you see a screen having Change view Assign company code- chart of accounts – Overview screen.

SAP FICO allows an organization to store a complete version of their financial transaction data. Specifically, the purpose of SAP FICO is to help companies generate and manage financial statements for analysis and reporting, as well as to aid in effective business planning and decision-making.

SAP Operating Chart of Accounts contains the G/L accounts used for posting daily transactions & activities in the company code. These Operating COA can be used for both financial accounting and cost accounting. A user can assign the Operating COA to a company code using t-code OB62.