What is taxonomy in SAP SRD-FIN-GL - FIN-General Ledger?

SAP Term: taxonomy

• Component: SRD-FIN-GL

• Component Name: FIN-General Ledger

• Description: An eXtensible Business Reporting Language XBRL structure designed for a specific set of accounting principles. For example, the structure includes the following taxonomies: US GAAP Global Common Data GCD

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• Key Concepts: 
  Taxonomy is a term used in SAP to refer to the structure of the General Ledger Accounting (GLA) component. It is a hierarchical system that organizes the various accounts and sub-accounts into a logical structure. This structure helps users to quickly identify and access the information they need. 
  
  How to use it: 
  The taxonomy of the GLA component is organized into four main levels: Chart of Accounts, Account Groups, Accounts, and Sub-Accounts. Each level contains different types of information that can be used to identify and access the data needed. For example, the Chart of Accounts contains information about the company’s financial structure, while the Account Groups contain information about specific types of accounts. 
  
  Tips & Tricks: 
  When using the taxonomy of the GLA component, it is important to remember that each level contains different types of information. Therefore, it is important to understand how each level works in order to quickly access the data needed. Additionally, it is important to keep in mind that some accounts may be linked to other accounts or sub-accounts, so it is important to understand how these links work in order to access all relevant data. 
  
  Related Information: 
  For more information on how to use the taxonomy of the GLA component, please refer to SAP’s official documentation on General Ledger Accounting. Additionally, there are many online resources available that provide detailed explanations and tutorials on how to use this feature.