In SAP, the basic element of the master data structure in the General Ledger is the chart of accounts, which is assigned to a company code and contains the master list of general ledger accounts that are required for external reporting on the organization.
In SAP, the GL account traditionally represents what most organizations refer to as the natural account (e.g. travel expense, sales revenue etc). The internal/management reporting structures such as cost centers are not embedded in the GL account. These structures are represented in the Controlling module (refer to the Cost and Profit Centre Accounting blueprint).
There are two segments in the General Ledger Master record in SAP:
- Chart of Accounts Segment.
- Company Code segment
Chart of Accounts Segment
In this segment, specifications that apply to the entire G/L account master record are captured. These include:
- The G/L account number and G/L account name.
- Whether the account is a balance sheet account or an P&L statement account.
- Data that controls the creation of a master record in a company code, such as the account group.
- GL Account Short Text and Long Text
Company Code segment
The information, which is specific to a particular Company, is maintained in the Company code segment of the General Ledger Master record. This data controls how one enters and processes business transaction data in the appropriate account as well as how the account is managed within a company code. The following are some of the specifications, which will be made for each G/L account