General Ledger Accounting Configuration Steps

General Ledger Accounting Configuration Steps

General Ledger Accounting :- The General ledger accounting is the complete record of all business transactions. 

GL Accounting Configuration Steps :-

• Step-1 :- Define Chart of Accounts
• Step-2 :-Assign Company Code to Chart of Accounts
• Step 3 :- Define Account Groups
• Step 4 :- Define Retained Earning Account
• Step 5 :- Creation of GL Master Records
• Step 6 :- Define Tolerance Group for GL Account

Step 1 :- Define Chart of Accounts

SAP Path :- SPRO -> IMG –> Financial accounting –> General ledger Accounting –> GL Accounts –> Master Data–> Preparations –> Edit Chart of Accounts list

Transaction Code :- OB13

Step-2 :-Assign Company Code to Chart of Accounts

SPRO -> IMG –> Financial accounting –> General ledger Accounting –> GL Accounts –> Master Data–> Preparations –> Assign Company Code to Chart of Accounts

Transaction Code :- OB62

Step 3 :- Define Account Groups

SAP Path :- SPRO -> IMG –> Financial accounting –> General ledger Accounting –> GL Accounts –> Master Data–> Preparations –> Define Account Groups

Transaction Code :- OBD4

Step 4 :- Define Retained Earnings Account 

SAP Path :- SPRO -> IMG –> Financial accounting –> General ledger Accounting –> GL Accounts –> Master Data–> Preparations –> Define Retained Earnings Account 

Transaction Code :- OB53

Step 5 :- Creation of GL Master Records

SAP Path :- SPRO -> IMG –> Financial accounting –> General ledger Accounting –> GL Accounts –> Master Data–> Preparations –> GL Account Creation and Processing –> Edit G/L Account 

Transaction Code :-  FS00

Step 6 :- Define Tolerance Group for GL Account

SAP Path :- SPRO -> IMG –> Financial accounting –> General ledger Accounting –> Business transactions –> Open Item Clearing –> Clearing Differences –> Define Tolerance Groups for GL Accounts

Transaction Code :- OBA0