What is operating chart of accounts in SAP FI-GL - General Ledger Accounting?

SAP Term: operating chart of accounts

• Component: FI-GL

• Component Name: General Ledger Accounting

• Description: The chart of accounts that contains the G/L accounts used for daily postings in all company codes in an organization.

Smart SAP Assistant

• Key Concepts: 
  Operating Chart of Accounts is a component of SAP FI-GL General Ledger Accounting. It is a list of all the accounts used in the company’s financial transactions. It is used to record and track all financial transactions, such as income, expenses, assets, liabilities, and equity. The chart of accounts is organized into different categories, such as assets, liabilities, income, and expenses. 
  
  How to use it: 
  The operating chart of accounts is used to record and track all financial transactions. It is used to create financial statements such as the balance sheet and income statement. The chart of accounts can be customized to meet the specific needs of the company. It can also be used to generate reports that provide insight into the company’s financial performance. 
  
  Tips & Tricks: 
  When setting up the operating chart of accounts, it is important to ensure that all accounts are properly categorized and labeled. This will make it easier to find and analyze information when needed. Additionally, it is important to keep the chart of accounts up-to-date so that it accurately reflects the company’s financial position. 
  
  Related Information: 
  The operating chart of accounts is closely related to other components of SAP FI-GL General Ledger Accounting such as account groups, cost elements, and reconciliation accounts. Additionally, it is important to understand how the chart of accounts interacts with other components of SAP such as Accounts Payable and Accounts Receivable.