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  • What is a General Ledger? Chart of Accounts in SAP

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    The general ledger records all financial transactions of a company through debit and credit accounts validated by a trial balance. It provides a record of each transaction over the life of the company, segregating data into asset, liability, equity, revenue, and expense accounts needed to prepare financial statements. The chart of accounts in SAP is a structured grouping of general ledger accounts with numbers and names that record organizational transactions, including operative, country-specific, and group charts of accounts.

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    The general ledger records all financial transactions of a company through debit and credit accounts validated by a trial balance. It provides a record of each transaction over the life of the company, segregating data into asset, liability, equity, revenue, and expense accounts needed to prepare financial statements. The chart of accounts in SAP is a structured grouping of general ledger accounts with numbers and names that record organizational transactions, including operative, country-specific, and group charts of accounts.

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    7 views1 page

    What is a General Ledger? Chart of Accounts in SAP

    Uploaded by

    abcdefg
    The general ledger records all financial transactions of a company through debit and credit accounts validated by a trial balance. It provides a record of each transaction over the life of the company, segregating data into asset, liability, equity, revenue, and expense accounts needed to prepare financial statements. The chart of accounts in SAP is a structured grouping of general ledger accounts with numbers and names that record organizational transactions, including operative, country-specific, and group charts of accounts.

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    © All Rights Reserved
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    What Is a General Ledger?

    A general ledger represents the record-keeping system for a company's financial data
    with debit and credit account records validated by a trial balance. The general ledger
    provides a record of each financial transaction that takes place during the life of an
    operating company.
    The general ledger holds account information that is needed to prepare the
    company's financial statements, and transaction data is segregated by type into
    accounts for assets, liabilities, owners' equity, revenues, and expenses.

    What is Chart of Accounts in SAP?


    The chart of accounts in SAP (COA) is a group of general ledger (G/L) accounts
    that records the organizational transactions in a structured way. Each general
    ledger account consists account number, name and control information.
    Types of Chart of accounts
    1. Operative chart of accounts
    2. Country specific chart of accounts
    3. Group chart of accounts

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