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  • One or more Chart of Accounts can be created per Client, but a Company Code can be assigned to only one Chart of Accounts. A Chart of Accounts may have many Company Codes assigned to it.
  • A master record can be created in one step for both the Chart of Accounts and the Company Code. This is known as creating the master record centrally. If the account already exists in the Chart of Accounts or Client (in the case of Customer and Vendor master records), the system automatically changes the screen layout to allow Company Code-specific data to be entered.
  • You can also create a master record in two separate steps (step-by-step): Step 1 . Create the Chart of Accounts segment Step 2. Create the Company Code segment(s)
  • A Reference button is present on the first screen of all FI master record creation transactions. When you select this button, an existing master record can be used to default data in to the master record that you are creating. Referencing an existing account reduces the amount of time to create a new master record and ensures that accurate information is entered. Note: A special master record, called a Sample Account, provides another alternative to create a G/L master record. Sample accounts are templates that contain preset data for G/L master records. Unlike reference accounts, they are not part of the General Ledger. They are useful if you work with several company codes and want to specify values for master record fields centrally. The use of sample accounts is optional.
  • The two types of data in the General Ledger Account master record are: Chart of Accounts Data Company Code Data The Chart of Accounts segment contains the General Ledger Account Number, General Ledger Account Name and controlling information for each General Ledger Account Master Record. Data that can be different based on individual Company Codes is maintained per Company Code in the Company Code segment of the master record. If a G/L Account is created in many Company Codes, it will contain one Chart of Accounts segment and many Company Code segments. The user must specify the G/L account number at the time the G/L Account is created.
  • The Chart of Accounts segment of the G/L Account master record contains data that applies to the entire master record: Control Account Group : To be discussed in following slides Balance Sheet Account : Identifies the G/L Account as a Balance Sheet account. P&L Statement Account Type : Identifies the G/L Account as a P&L (Income) Statement account (e.g., revenue, expense) and defines to which Retained Earnings account the annual profit or loss is transferred. Name Short Text : Used for on-line displays that do not have sufficient space for long text. G/L Account Long Text
  • The Account Group (also known as G/L Account Group ) contains a number interval specified by a lower and upper limit that controls the numbering for the G/L Account master record. Note: Unlike other number intervals, G/L Account Group number ranges can overlap. The Account Group , in conjunction with the Activity type , determines the field status (i.e., suppressed, displayed, required, or optional) when creating the Company Code segment. Field status will be discussed in following slides. The Account Group is a mandatory field in the Type/Description tab of the G/L Master Record screen. By specifying the Account Group, the screen layout for subsequent screens is defaulted.
  • There are two levels of control when determining the screen layout of a G/L Account master record: Field status in the G/L Account Group: Determines the Company Code segment screen layout when working with a G/L Account master record. Each Account Group has a Field Status Group linked to it. The Field Status Group contains all of the possible fields in the company code segment of the G/L Account. These fields are assigned a Field Status (i.e., suppress, display, required, or optional), which determines how/if they are displayed in the G/L master record. Field status for the Activity Type (Create, Change, Display) Like the Account Group, uses a Field Status Group to determines the screen layout of the Company Code segment when creating, changing or displaying a G/L Account master record. An example of a field status for an Activity Type would be to make the Account Currency field mandatory when creating a G/L Account master record and display only when changing it. As the following slide will illustrate, neither Account Group nor Activity Type take precedence over each other. Instead the settings for the individual fields in each item determine what is displayed.
  • Since there are two sources of field statuses, link rules exist to determine which source takes precedence when determining whether a field will be required, optional, displayed or suppressed. The field status information of the two screen selection tables are linked to one another in pairs.
  • Using the link rules to pair the different levels of field status, this example demonstrates that the Account Currency is a required field while Line Item Display is a display only field.
  • For every Chart of Accounts, the language in which the G/L Account Name can be displayed must be defined. The user maintains the G/L Account Name (short text and long text) and any keywords for the languages specified. The system will not translate names of G/L Accounts automatically. Once the G/L Account’s name is specified in the languages desired, the system will select the correct name based on the language selected at login. When the user logs on, he/she must specify a language for the session. All menus, data entry screens, reports, system messages, and Account Names are then displayed in this language.
  • In the Company Code-specific area of the master record, data may be entered that varies between Company Codes. This data controls how users enter and process transactional data. Account Control Account Currency : Currency in which amounts posted to the G/L Account are managed. Recon. Acct. for Acct. Type : When used, this field defines the account as a reconciliation account for a customer, vendor or asset. Account Management Open Item Management : When selected, this setting will allow open items in the account to be matched against an offsetting item and closed. The GR/IR account is an example of an account that should be managed on an open item basis. Line Item Display : All items posted to the account that have not yet been archived can be displayed individually. Sort Key : Defines the data field used to populate the Assignment field in a document line item. The Assignment field is used as a sort criterion when displaying G/L Account line items. It will be discussed in detail in Chapter 15 (Display Accounts & Documents). Document Entry Control Field Status Group : Determines the input status (required, optional, suppressed) of data fields when using the G/L Account in a transactional document (e.g., a customer invoice). Note: While similar in function, this Field Status Group should not be confused with those used in the Activity Type and G/L Account Group
  • An account currency must be specified in the Company Code segment of a G/L Account master record. If the currency specified is the local currency (i.e., the Company Code currency) then transactions posted to the account are managed in the Local Currency. If the currency specified is not the same as the Local Currency, then transactions posted to the account are posted in the specified foreign currency and the local currency. Note: The above statement assumes the “Only balances in local crcy” checkbox is not selected. If “Only balances in local crcy” is selected then the system will only allow postings using the currency specified in the Account Currency field to be made to the G/L account . When creating a G/L Account master record at the Company Code level, the system defaults the local currency as the Account Currency. The default may be overridden with a different Account Currency. Note:Use of foreign currencies will be discussed in detail in Chapter 26 (Currencies).
  • Also known as Collective Processing, Mass maintenance is now supported for the following objects: Business partner Rental Unit Customer master Article Master (retail) Vendor master Material Master G/L account Purchase Requisition Profit center Purchase Order Appropriation request Info Record Change the data of multiple entries by selecting the desired entries and indicating the new field value(s) By specifying selection criteria, you can restrict the number of objects to be changed. You can then change your data at the field level by specifying the new value for the field(s). You can run the tool online or in the background. However, if many objects are to be changed at the same time, it is best to run the procedure in the background to reduce the system load. In this case, a workflow informs you of the changes made and displays any errors that have occurred. The changed data is checked for consistency. This check prevents data inconsistencies since inconsistent changes are rejected and noted in the change log.
  • Blocking can be used to prevent posting to or planning with a Vendor, Customer or G/L Account. It can also prevent creation of a master record at the Company Code and/or Chart of Accounts levels. Blocking authority is often restricted because other module activities such as sales order creation in Sales and Distribution (SD) could be affected. You can also unblock an account that was previously blocked by using the same transaction and deselecting the checkbox.
  • You can either mark a record for deletion at the Chart of Accounts level, which will affect all Company Codes using the Chart of Accounts, or for one or more specific Company Codes. When attempting to post a business transaction to an account marked for deletion, a warning message will appear. Since it is only a warning, the message can be overridden by pressing the enter key. The transaction can then be completed. Authority to mark records for deletion is usually restricted. To ensure that a transaction can not be posted to a master record marked for deletion, the record should be blocked for posting as well. After validating whether certain deletion criteria are fulfilled, the system physically deletes the master record from the active database when the archiving program is executed.
  • General Ledger Account master record - a master record that contains information about the account that controls how business transactions are posted to it and how it is managed. The two types of data in the General Ledger Account master record are: Chart of Accounts Data - Information that applies to the entire master record Company Code Data - Information that varies between Company Codes. This data controls how users enter and process business transactions that reference G/L accounts. Sample Account - A template that can be used to create G/L Accounts. When used, the information defined in the Sample Account is defaulted into the Company Code segment of the G/L Account being created. Account Group - Determines the fields that are are relevant to a master record and defines the number range from which numbers are selected for the master record.
  • Open Item Management - A setting within the system that allow s open items in the account to be matched against an offsetting item and closed. The GR/IR account is an example of an account that should be managed on an open item basis. Line Item Display - A setting within the system that allows all items posted (but not yet archived) to an account to be displayed individually. Sort Key - Defines the data field(s) used to populate a G/L posting’s Assignment field. Assignment - A field within the system that is used as a sort/selection criterion when displaying/choosing G/L Account line items. Field Status Group - When specified in the G/L Account Group or Activity Type, it determines the input status (required, optional, display, or suppressed) of data fields in the company code segment of a G/L master record. When specified in the G/L master record it determines the status (required, optional, or suppressed) of fields in a document posting. Mass Maintenance - A feature that enables the user to make changes to multiple master records simultaneously Blocking - Functionality in the system that can be used to prevent posting to or planning with a Vendor, Customer or G/L Account or to prevent creation of a master record. Marking for Deletion - Functionality in the system that is used to identify master records that are no longer needed in the active database. G/L accounts can be deleted at the Chart of Accounts and/or the Company Code level.

Transcript

  • 1. Chapter 6 - General Ledger Account Master Records
    • A General Ledger Account master record contains information about the account that controls how business transactions are posted to it and how it is managed.
    • Chapter Objectives
      • Define the components of the Chart of Accounts and Company Code segments.
      • Create a G/L Account master record.
  • 2. Chart of Accounts Client Company Code US01 Company Code US02 Company Code EU01 Chart of Accounts CAEU Chart of Accounts CAUS
  • 3. Creating a Master Record - Centrally
  • 4. Creating a Master Record - Step By Step Step 1. Create Chart of Accounts Segment Step 2. Create Company Code Segment
  • 5. Creating a Master Record - Reference
  • 6. G/L Account Master Record The G/L Account Number is included in both sections of the master record
  • 7. G/L Account Master Record - Chart of Accounts Segment
  • 8. G/L Account Master Record - Account Group
  • 9. G/L Account Group - Company Code Segment Field Status + = Account Group Field Status Activity Field Status Company Code Segment Screen Layout
  • 10. Field Status Screen Layout Link Rules The Field is: S Suppressed D Displayed R Required O Optional S D R O S S S S S 1st Priority D S D D D 2nd Priority R S D R R 3rd Priority O S D R O 4th Priority
  • 11. Example of Field Status Definitions Result Company Code Segment Data: Payment Transactions: Account Line Item Currency Display Field Selection: Activity Type level O D Account Group level R R Account Currency Line Item Display R D
  • 12. Translating the Name of G/L Accounts
  • 13. G/L Account Master Record - Company Code Segment
  • 14. G/L Account Currency Currency Company Code segment of the G/L Account master record
  • 15. Mass Maintenance Formula Editor “ Push Button” Field Selection Fields to be updated New Value Current Values Restrictions
  • 16. Blocking a Master Record This master record is blocked ONLY in this Company Code
  • 17. Marking a Master Record for Deletion This master record is marked for deletion in just the Company Code
  • 18. General Ledger Master Records Chapter Summary
    • Key Terms
      • General Ledger Master Record
      • Chart of Accounts Data
      • Company Code Data
      • Sample Account
      • Account Group
  • 19.
    • Key Terms
      • Open Item Management
      • Line Item Display
      • Sort Key
      • Assignment
      • Field Status Group
      • Mass Maintenance
      • Blocking
      • Marking for Deletion
    General Ledger Master Records Chapter Summary (continued)