The Chart of Accounts contains the list of all General Ledger account master records.
Depending on legal and reporting requirements, multiple Charts of Accounts can be defined.
Chart of Accounts can have 3 different functions
- Operating Chart of Accounts – Main COA used for daily activities and is a link between FI and CO module.
- Group chart of accounts – used to provide report for a corporate group
- Country-specific chart of accounts – used to meet country specific legal requirements
Master data at the Chart of Accounts level includes the account name and number, maintenance language and control indicators specifying account type (Balance Sheet or Profit and Loss).
Block indicators can be set at the Chart of Accounts level to prevent the creation of additional master records.
