What is working chart of accounts in SAP FS-LOC-RU - Localization of Banking in Russia?

SAP Term: working chart of accounts

• Component: FS-LOC-RU

• Component Name: Localization of Banking in Russia

• Description: A list of synthetic accounts that are included in the accounting policy for each bank. These synthetic accounts are part of the Russian chart of accounts, and are neccesary to conduct accounting according to requirements of timeliness and completeness of the account and reporting. For example, the complete chart of accounts comprises all possible general ledger G/L accounts, but a bank does not neccesarily use all of them for its business - for example, if a bank does not offer loans, no G/L for loans is available in the working chart of accounts.

Smart SAP Assistant

• Key Concepts: 
  A working chart of accounts is a set of accounts used to record financial transactions in SAP. It is part of the FS-LOC-RU Localization of Banking in Russia component, which provides a comprehensive set of features and functions for managing banking operations in Russia. The working chart of accounts includes all the necessary accounts for recording financial transactions, such as cash, receivables, payables, and other accounts. 
  
  How to use it: 
  The working chart of accounts can be used to record financial transactions in SAP. To do this, users must first create a new account in the system. This can be done by selecting the “Create New Account” option from the menu. Once the account is created, users can enter the necessary information such as account name, type, and currency. After entering the information, users can then enter the financial transactions into the system. 
  
  Tips & Tricks: 
  When creating a new account in the working chart of accounts, it is important to ensure that all the necessary information is entered correctly. This includes entering the correct account name, type, and currency. Additionally, it is important to ensure that all transactions are entered accurately and that all necessary documents are attached to each transaction. 
  
  Related Information: 
  The FS-LOC-RU Localization of Banking in Russia component also provides additional features and functions for managing banking operations in Russia. These include features such as bank reconciliation, payment processing, and reporting capabilities. Additionally, users can access detailed information about their accounts and transactions through the system’s reporting capabilities.