Chart of Accounts is a structured list of General Ledger (GL) Accounts which we are using to report our ledger postings. For maintaining one controlling area to several company codes it is mandatory that the same Chart of Accounts will be used by all company codes in that controlling area. In this configuration we are defining the main language and the length of the GL accounts.
IMG Path: Financial Accounting (New) -> General Ledger Accounting (New) -> Master Data -> G/L accounts -> Preparations -> Edit Chart of Accounts List
When you open the transaction you will see the list of currently available Chart of Accounts. To create new one, click on “New Entries” button.
Fill the necessary fields and then click on save button.
In most cases you will use “Automatic creation of cost elements” option in the controlling integration drop-down field.