Account Groups Play Important Role in creating GL Accounts
What is an Account Group in SAP?
An Account group is grouping similar accounts or segregating similar accounts into one group/ Single group.
In SAP each account group is assigned to a chart of accounts, so you can use only the account group if the controlling areas use the same chart of accounts.
Within the account group, we can prepare accounts within the number range. For example, we can create a bank account with any account number for the Current Assets number range 100000 – 199999. SevenMentor will provide the best corporate SAP Classes in Pune for industry professionals.
For Free, Demo classes Call: 020-71173116
Registration Link: Click Here!
We suggest In Real-time business scenarios,
- All Asset accounts start with 1 series.
- All Liabilities accounts to start with 2 series.
- All income accounts to start with 3 series.
- All Expenditure accounts to start with 4 series.
For Free, Demo classes Call: 020-71173116
Registration Link: Click Here!
It means You can create 4 Groups
- One is for Assets
- One if for Liabilities
- One is for Income
- One is for Expenses
For more understanding find the below table.
| COA | Short name | Type of G/L | From | To |
| TAT1 | AS | Assets | 100000 | 199999 |
| TAT1 | LB | Liabilities | 200000 | 299999 |
| TAT1 | IN | Income | 300000 | 399999 |
| TAT1 | EX | Expenses | 400000 | 499999 |
The reason behind following the accounts within the series is when posting to a wages account or salary account, which is an expenditure account; becomes easy to find out for posting from a number of GL accounts.
For example:
While posting to the wages account or salary account when the user gives *4, then only expenditure accounts will appear in the List. So it become easy to select wages/salary account from a number of GL Accounts.
Is It necessary to Assign Account Groups to Company code?
Follow me for the Answer…….
For Free, Demo classes Call: 020-71173116
Registration Link: Click Here!
In SAP many things are created and then we are assigning it to the company code. for example, 🡪 we are creating a chart of accounts and then we are assigning it to the company code. Same with field status variants, PPV, Business area, and many more. SevenMentor provides real-time and industry-focused SAP Course in Pune.
But in the case of the Account group, we are not assigning to company code because while we are creating account groups we are using a Chart of accounts. And this chart of accounts (COA) is already assigned to the Company code.
Vaishali Todkar
SAP FICO Trainer
Pune.
Call the Trainer and Book your free demo Class for SAP now!!!