Introduction What is an ERP system? And why should businesses use it? Today, small and medium-sized businesses (SMEs) also face some of the problems that large enterprises do. One of them being planning and managing their resources. SMEs face similar complexities but have limited resources to deal with them. Small businesses (like their bigger counterparts) have to: Do accounts to track their sales/purchases. Do their taxes. Pay their employees. Manage deliveries within promised timelines. Deliver quality goods and services. Communicate with customers, answer their queries. Large enterprises invest millions of dollars in highly sophisticated systems like SAP. SAP and similar systems are able to handle requirements from these large enterprises to bring their multi-country , multi-company , multi-currency , global businesses into a single platform. This has helped them achieve consolidation of data/records in the fundamental processes such as accounting, taxation, payroll, reporting
You can create a SAP FI chart of accounts group as per your requirement. To effectively manage and control a large number of G/L accounts, you should use COA groups. How to define Chart of Accounts Group? There are two ways you can create a new COA group. The first method is to use the T-code OBD4. You can also reach to this screen by following the path − T-code SPRO → SAP Reference IMG → Financial Accounting → General Ledger Accounting → G/L Accounts → Preparations → Define Account Group → Execute → New window will open → New Entries. Populate the following fields in the COA group: Chart of Account Key, Acct Group, Name, From Acct. and To Account details. After providing the required details, click the Save Configuration option to create the COA group.