Chart of Accounts Setup in SAP Business One version 9.0
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Chart of Accounts Setup in SAP Business One version 9.0

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LBSi published documentation on how to define and setup the chart of accounts in SAP Business One. The setup of the chart of accounts is a critical task in your implementation. Document focuses on ...

LBSi published documentation on how to define and setup the chart of accounts in SAP Business One. The setup of the chart of accounts is a critical task in your implementation. Document focuses on proper setup and contains a detailed explanation of segment accounts and how they can help you.

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Chart of Accounts Setup in SAP Business One version 9.0 Chart of Accounts Setup in SAP Business One version 9.0 Document Transcript

  • Chart of Accounts Version 9.0 User Guide 10749 Pearl Rd., Suite 2A Strongsville, Ohio 44136 Ph: 440-846-8500 * Fx: 440-846-8505 * www.lbsi.com * email sap@lbsi.com Pittsburgh Office: One Oxford Centre, 301 Grant Street, Suite 4300, Pittsburgh, PA 15219 Ph:412-577-4084 Columbus Office: 545 Metro Place South, Suite 100, Dublin, OH 43017 Ph: 614-766-3622
  • Chart of Accounts User Guide Revised: July 2013 Overview Page 2 of 7 Copyright: This manual and software described herein are copyright protected with all rights reserved. Your right to copy this documentation is limited by copyright law and the terms of any and all software license agreements. As the software licensee, you may make a reasonable number of copies for your own use. Making unauthorized copies, versions, compilations or other derivative works for commercial distribution is prohibited and constitutes a punishable violation of the law. Unless otherwise noted, all names of companies, products, addresses, and persons contained in this document are fictitious and are used solely to document the use of the product. Warranty: LBSi disclaims any warranty regarding the information contained in this document and/or the sample code including warranties of merchantability and fitness for a particular purpose. Limitation of Remedies and Liabilities: The content of this manual is for informational purposes only, is subject to change without notice, and is not to be construed as a commitment by Long Business Systems, Inc. (LBSi). Although every precaution has been taken in the preparation of this document, LBSi assumes no responsibility for errors or inaccuracies that may appear in this manual. Neither is liability assumed for damages resulting from the use of the information contained herein. Client agrees that LBSi’s liability and Client’s sole and exclusive remedy pursuant to any claim of any kind, including but not limited to a claim in contract, negligence, professional malpractice or strict liability, against LBSi or any of its affiliates, shall be (a) the repair or replacement, at LBSi’s option, of materials, or (b) a refund of the price allocable to the defective product or part thereof or software materials if LBSi is unable to effectively repair, replace or correct such defect within a reasonable time after using its best efforts, or (c ) in those situations where LBSi has provided only analysis or design services, the correction of any analysis or design defect, however this does not include any reworking or remanufacturing caused by any defect or error in LBSi’s analysis and design. UNDER NO CIRCUMSTANCES SHALL LBSi OR ANY OF ITS AFFILIATES HAVE ANY LIABILITY WHATSOEVER FOR ANY COMPENSATORY, PUNITIVE, SPECIAL, INDIRECT, INCIDENTAL, OR CONSEQUENTIAL DAMAGES, including, but not limited to, loss of profit or revenue, loss of use, lost production, or consequential property damage: cost of capital: cost of replacement equipment: or claims resulting from contracts between Client and its customers and/or suppliers.
  • Chart of Accounts User Guide Revised: July 2013 Overview Page 3 of 7 Table of Contents How to Use Chart of Accounts......................................................................................................................4 Overview ...................................................................................................................................................4 Where to Access Chart of Accounts..............................................................................................................4 Location.....................................................................................................................................................4 Account Segmentation..............................................................................................................................5 Explaining the Chart of Accounts..............................................................................................................6 Adding Accounts ....................................................................................... Error! Bookmark not defined.. Title Account .......................................................................................... Error! Bookmark not defined. Active Account........................................................................................ Error! Bookmark not defined. Account Details Windows ...................................................................... Error! Bookmark not defined. Editing/Updating Existing Accounts........................................................... Error! Bookmark not defined. Moving or Deleting Accounts..................................................................... Error! Bookmark not defined. Moving an Account ................................................................................ Error! Bookmark not defined. Deleting an Account............................................................................... Error! Bookmark not defined.
  • Chart of Accounts User Guide Revised: July 2013 Overview Page 4 of 7 How to Use Chart of Accounts Overview This document has been created as a step-by-step user guide for creating and editing the Chart of Accounts. In this document you will be shown how to set up Account Segmentations and Chart of Accounts. You will also be shown how to add, edit/update, move and delete accounts. Where to Access Chart of Accounts Location Main Menu > Financials > Chart of Accounts
  • Chart of Accounts User Guide Revised: July 2013 Account Segmentation Page 5 of 7 Account Segmentation Account segmentation is extremely helpful in SAP and provides a very easy way of reporting financial data in areas such as: • Multiple companies • Departments • Divisions • Product lines • Etc. Your project manager and/or SAP Business One expert will help you determine if account segmentation should be used. Once account segmentation is setup and there has been one transaction created you cannot change the number of segments or the sizes. Additional segment names within a particular segment can be added as needed. If you plan on using segmented chart of accounts you must set your desired Account Segmentation before you can set up the Chart of Accounts. To do this navigate to the Account Segmentation window which can be found under Administration > Setup > Financials > Account Segmentation. The first segment, natural account, is mandatory but can be modified in length and title, as is true for all account segments. You may also choose to use additional segments to define different parts of the business such as division, region or department. You can create up to 10 different segments.
  • Chart of Accounts User Guide Revised: July 2013 Explaining the Chart of Accounts Page 6 of 7 Explaining the Chart of Accounts Once you have determined your account segments, you may now create your chart of account in SAP Business One. Within the Chart of Account there are separate “drawers” for accounts representing assets, liabilities, equity, revenues, cost of sales, expenses, financing, and other revenues and expenses. These eight filing drawers, which cannot be changed, allow you to organize your accounts to support your financial, accounting and reporting processes. For increased organization you may also define levels of accounts. By using levels, you may group G/L Accounts into categories such as travel expenses or payroll expenses. There are two types of accounts, title accounts and active accounts. Title accounts are used to define a group of accounts. Active accounts are G/L Accounts which can be posted to in SAP Business One. Note: It is good practice to have all active accounts at the same level to keep consistency and avoid errors. Level 1: Asset Drawer Level 2: Title Account Level 3: Title Account Level 4: Active Accounts
  • Chart of Accounts User Guide Revised: July 2013To receive the entire version of this document in PDF format, please send an email to keith@lbsi.com and request document Chart of Accounts User Guide for version 9.0: Page 7 of 7 To receive the entire version of this document in PDF format, please send an email to keith@lbsi.com and request document Chart of Accounts User Guide for version 9.0: LBSi (Long Business Systems, Inc.) Keith Taylor, Vice President Email: keith@lbsi.com Phone: 440-846-8500 ext 26 10749 Pearl Rd., Suite 2A Strongsville, OH 44136 USA