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To customize and set up when creating a G/L account in the company code and chart of accounts by defining the number interval and the screen layout, you simplify G/L account creation by reducing the number of entry fields.
The account groups are entered in Customizing per chart of accounts.
1. General Ledger Accounting
2. G/L Accounts Master Data
3. Preparations
4.Define Account Group .
The prime objective is assign an accounts group to a specific functional area.
The complete list of accounts that can be used for the organization's journal and ledger entries is called its chart of accounts. Every account on this list is represented in the general ledger.
Each account has a balance, or account value, which can rise and fall as transactions occur. Account summaries in the ledger show at a glance transaction activity for a period of time as well as the current account balance (or, at least, the balance after journal entries were last posted).
To simplify G/L account creation by reducing the number of entry fields.
We know that account group is a summery of accounts based on creteiria that effects how master records are created.
-When we create a G/ L account in the chart of accounts area, we must specify an account group.
- the account group determine;
*The screen layout for creating G/ L accounts in the company code specific area.
*the number interval from which the account number is selected when a G/ L account is created.
-By using account group we can group the G/ L accounts to function area.
