What is 'G/L account' in SAP PSM-FM - Funds Management?

G/L account - Overview

• Component: PSM-FM

• Component Name: Funds Management

• Description: Book for managing bookkeeping fiscal accounting that contains the business transactions in order, in other words, based on the grouping of the budget plan. Cash-based closing and the budget calculation is developed from the G/L account.

G/L account - Details

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  Key Concepts: 
  A G/L account is a General Ledger account in SAP Funds Management (PSM-FM). It is used to record and track financial transactions within an organization. G/L accounts are used to classify and store financial data, such as revenue, expenses, assets, liabilities, and equity. 
  
  How to use it: 
  G/L accounts are used to record and track financial transactions within an organization. They are used to classify and store financial data, such as revenue, expenses, assets, liabilities, and equity. G/L accounts can be used to generate reports that provide insight into the financial health of an organization. 
  
  Tips & Tricks: 
  When creating G/L accounts in SAP Funds Management (PSM-FM), it is important to ensure that the account numbers are unique and that the account names are descriptive. This will help ensure that the data is accurately recorded and tracked. Additionally, it is important to ensure that the G/L accounts are properly configured in order to generate accurate reports. 
  
  Related Information: 
  For more information on G/L accounts in SAP Funds Management (PSM-FM), please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips on how to use G/L accounts in SAP Funds Management (PSM-FM).