Chart of Accounts
The General Ledger (G/L) is the core of Financial Accounting. All accounting-relevant business transactions are posted to G/L accounts.
G/L accounts are managed using a chart of accounts. The chart of accounts serves as a framework to ensure the G/L accounts are created uniformly in Financial Accounting.
The Bike Company has decided to use the standard chart of accounts YCOA delivered with SAP S/4HANA in each company code for their operational postings.
The YCOA chart of accounts is assigned to each company code in configuration and is referred to as its Operating Chart of Accounts.
The G/L accounts in the YCOA chart of accounts are grouped according to business aspects using their eight-digit G/L account number as follows.
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The account number enables the account department to select, post, and analyze documents quickly and reliably.
In addition to the account number and description, a G/L account master record also contains information about how business transactions are posted to G/L accounts and how the posting data is processed.
Example: A specific profit and loss account always needs to be posted in relation to sales tax, or a G/L Account can only be posted using certain currency (for example, a foreign currency account that is managed in USD (US Dollars) at the bank).
If you run several systems in parallel, you can look for possibilities to help keep master data consistent for all systems. Master data in different systems can be managed in parallel by using SAP Master Data Integration and SAP Master Data Governance, which run on SAP Business Technology Platform (SAP BTP).