Credit Control area is used for controlling the credit exposure of  the company to a different operations with our partners. A prerequisite for defining a credit control area is the fiscal year variant which should be created or maintained already.  One Credit Control Area could be assigned to several company codes. You could set credit limits on individual customers as well as based on whole market on which the company is operating.   Transaction: OB45 IMG Path: Enterprise Structure -> Definition -> Financial Accounting -> Define Credit Control Area Table: T014     When you open the transaction you should hit …

When we have Chart of Accounts, it is time to structures our General Ledger (GL) Accounts. The Account Groups will help to separate different GL types as Equity Accounts, Fixed Assets, Accounts Receivable, Accounts Payable, Revenues, Materials, Overheads, etc. Account Groups will also give an opportunity to define rules for field status. For example, cost center is required for expense accounts and hidden for Equity Accounts. Transaction: OBD4 IMG Path: Financial Accounting (New) -> General Ledger Accounting (New) -> Master Data -> G/L Accounts -> Preparations -> Define Account Group Table: T077S     When …

When we have already defined Chart of Accounts we could now assign it to a Company Code. As it was already mention, we could assign one Chart of Accounts to several Company Codes. This is one of the prerequisites for maintaining uniform Controlling Area within several Company Codes.   Transaction: OB62 IMG Path:  Financial Accounting (New) -> General Ledger Accounting (New) -> Master Data -> G/L Accounts -> Preparations -> Assign Company Code to Chart of Accounts Table: T001       When you open the transaction. Find you company code and fill the already defined Chart of …

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. Transaction: OB13 IMG Path: Financial Accounting (New) -> General Ledger Accounting (New) -> Master Data -> G/L accounts -> Preparations -> Edit Chart of Accounts List Table: T004   …

  Here we are going to assign posting period variant that we defined in our previous step. As I mentioned earlier we could assign one posting period variant to one or several company codes. From my experience it is better to go for one by one relation.   Transaction: OBBP IMG Path: Financial Accounting (New) -> Financial Accounting Basic Settings (New) -> Ledgers -> Fiscal Year and Posting Periods -> Posting Periods -> Assign Variants to Company Code  Table: T001   After we open the transaction we should find our company code and fill the field for posting period variant. In my case …