Creation of GL Master Records

SAP Best Practices Baseline Package

(India)

SAP Best Practices

Scenario Overview – 1

Purpose and Benefits:

Purpose
 General Ledger (G/L) accounts are the fundamental master data in FI. These
SAP GL Accounts are essential for capturing accounting details and financial
reporting. Also, we use them for recording financial transactions and tracking
account balances to fulfil external financial reporting requirements, legal or
otherwise.

Benefits
 It provides an accurate record of all financial transactions. It enables you to
compile a trial balance, so your books balance. It makes filing tax returns easy
because all expenses and income are in one place.

Key process flows covered

 Create Chart of accounts – OB13
 Create Accounts Group – OBD4
 Determine the GL Account Type (P&L or B/s)
 Create the GL master – FS00
Scenario Overview – 2

SAP Applications Required:

Required
 SAP S4 Hana.
 SAP ECC Ehp7

Company roles involved in process flows

 Accounts Executive
 Finance Manager
 SAP Consultant
Scenario Overview – 3

Detailed Process Description:

Journal Entries.
 Creation of Organisation structure.
 Defining Fiscal Year, Posting Period, COA, Documents type.
 Creation of Accounts group
 Creation of General Ledger master.
Process Flow Diagram
Journal Entry Processing
Event

Creation of GL Display
Master Change GL Master
FI Consultant

System Accounts
COA Group
Configuration
Accountant

Creation of GL Accounts

GL- General Ledger