The Essential Guide to Chart of Accounts

A chart of accounts:

  • Organizes the General Ledger (G/L) accounts in a company.
  • Provides details like account numbers and names for easy identification.
  • Needs to be assigned to each company code.
  • When managing multiple company codes, you can either use a single chart for all or add up to two more.
  • The functions include the operating chart, which is essential for daily postings, a group chart for comprehensive group reporting, and a country-specific chart for meeting legal requirements.

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