MINIMUM CONFIGURATION REQUIRED TO MAKE A TRANSACTION ENTRY• Min Config steps for making a GL Entry
• 1. Define a company• 2. Define a company code• 3. Assign a Company Code to Company
• 4. Define Chart of Accounts• 5. Assign Chart of Accounts to Companycode• 6. Define Account Groups• 7. Define Retained Earnings Account
• 8. Define Fiscal Year Variant• 9. Assign Fiscal Year Variant to Company Code
• 10. Define Posting Period Variant• 11. Assign Posting Period Variant to Company Code• 12. Open and Close Postings Periods
• 13. Define Field Status variant (Field Status Groups)• 14. Assign Field Status Variant to company code
• 15. Document Type and Defining Its Number Ranges• 16. What is Account Type• 17. Posting Key and knowing about Posting Key
• 18. Define Tolerance Group for Employees• 19. Define Tolerance Group for GL Account
Company Code
Company Code• It is an independent accounting entity. A company code is assigned to a
chart of accounts.• Each company code in A Group uses the G/L accounts from only one
chart of accounts for account validation. This is called the operating chart of accounts.
• A chart of accounts can be used by multiple companies provided they have the same basic account requirements.