GL Master Data
In GL Master Data, we have two segments.
1. Chart of Accounts Segment ---FSP0
2. Company code Segment---FSS0
Centrally means, There we can configure chart of accounts segment plus company code segemnt.
Double click on FS00
The following screen will be displayed.
Chart of Account segment
Company code segments
G/L Account Group
The account group is a classifying feature within the G/L account master records. The
account group is a required entry.
The account group determines the fields for the entry screens if you create or change a master
record in the company code. The account group also determines in which number interval the
account number must be.
Whatever the GLS, we are going to create, either it is P&L statement account or balance sheet account.
If the GL relates to expenses/losses/incomes/gains, we need to choose P&L Statement account.
If the GL relates liabilities/Assets, we need to choose balance sheet.
Short text ----we can update the GL name in 20 characters
Long text-----We can update the GL name in 50 characters.
If a currency other than the company code currency is specified, users can only post items in that
currency to this account.
If the company code currency is specified, users can post items in any currency to this account
This option relates to balance sheet GL accounts.
And it relates to clearing nature GL accounts.
At the time of clearing the GL, if the system has to consider local currency, then only we have to choose
only balances in local currency.
Here system it won't convert foreign currency to local currency and no scope for exchange rate
differences.
Generally we have to enable this option for below gl accoutns.
1.GR/IR Clearing Account
2.Cash discount clearing account
3. Bank clearing accounts.
Tax Category
If tax needs to be calculated for that GL, then we need to update relevant tax category.
It should be possible to post both taxable and non-taxable items to an account.
An entry in this field characterizes the G/L account as a reconciliation account. The
reconciliation account ensures the integration of a sub ledger account into the general ledger.
1. Reconciliation Account is the balance sheet account.
2. We cannot choose only balances in local currency, open item management, post automatically
only.
If you define country specific chart of account as per client requirement, here we need to assign
country specific GL account number.
This country specific chart of account is required in 2 cases.
1. Client needs legacy data GL account number.
2. If client needs separate chart of account to meet country legal requirements.
Open item management, we need to select for clearing nature GL accounts.
We can enable this option only for balance sheet accounts.
For reconciliation accounts, we cannot choose open item management.
This is the in built feature for recon account.
In the New General Ledger, line item display is always possible for the general ledger view. You
have to set this indicator if you
- Also want to see the line items in the entry view
- Want open item management
Based on the sort key, system can determine which field data need to be fetched either from
document header or document line item to populate assignment field.
Based on the sort key, system will do the sorting.
While posting the transaction/documents, this field status group controls the line item field status
of the GL account.
If you select post automatically only means, we cannot post the transaction manually to that GL
account.
System will post the document to that GL based on the scenario.
While creating reconciliation account, if you enable reconciliation account ready for input,
that means you can change the default reconciliation account which is fetched from master data
while posting the transaction.
This option we need to choose all cash & bank related GL accounts.
In SAP, every bank we need to map as house bank.
And bank accounts, we need to map as account id.
For each house bank & account id, we need to create 3 GLs.
1. Main Bank GL
2. Incoming Bank GL
3. Outgoing Bank GL.
While creating GL master data, if it is bank account related GL, we need to update respective
house bank and account id.
Interest Indicator
If interest needs to be calculated for this GL account, then we need to update interest indicatoe
here.
Then we run interest calculation, system consider this GL account.
All this data will be over written every time when you run interest calculation.
