O'Reilly logo

SAP ERP Financial Accounting and Controlling: Configuration and Use Management by Andrew Okungbowa

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

CHAPTER 5

image

Creating a General Ledger (G/L)

In this chapter, you learn how to create G/L accounts, use line items, and open item management in G/L accounts.

At the end of this chapter, you will be able to:

  • Explain what a general ledger is
  • Describe what a master record is
  • Create G/L account master records
  • Use a template to copy a G/L account

General Ledger

Business transactions are sorted and stored in G/L accounts that apply the double entry principle—dual control (debit and credit). Transactions posted to G/L accounts are classified into assets, liabilities, income, and expenditures, from which financial statements are drawn.

All financial transactions ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required