SAP FI – G/L Account General Ledger (G/L) accounts are used to provide a picture of external accounting and accounts and to record all the business transactions in a SAP system. This software system is fully integrated with all the other operational areas of a company and ensures that the accounting data is always complete…

SAP FI – Retained Earnings Account Retained Earnings Account is used to carry forward the balance from one fiscal year to the next fiscal year. You can assign a Retained Earning Account to each P&L account in the chart of accounts (COA). To automatically carry forward the balance to the next fiscal year, you can…

SAP FI – COA Group You can create a SAP FI chart of accounts group as per your requirement. To effectively manage and control a large number of G/L accounts, you should use COA groups. How to define Chart of Accounts Group? There are two ways you can create a new COA group. The first…

SAP FI – Define Functional Area Function Areas in finance accounting are used to define the expenses in a company according to individual function units. The most common Functional Areas are − • Manufacturing • Sales and Distribution • Production • Administration How to Define a Functional area in SAP FI? You can define a…