Continuing with the Chart of Accounts

The base configuration for chart of accounts EXCA was done in Chapter 2. We’ll now complete the chart of account configuration to make it functional for the production system. As explained in Chapter 2, it is necessary to go through your existing chart of accounts and reduce the number of accounts to only those that are essential. There is no need to build logic into the account numbers other than to group similar types of accounts by account group. Remember, the G/L is no longer your sole reporting system. We will show you how to utilize the CO module to achieve your controlling/managerial reporting needs. For accounts that require a detailed reconciliation, there are other dimensions such as the allocation ...

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