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What is Chart of accounts? What are the different types of COA in FI? |
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Answer» The FI chart of accounts represent the list of GL accounts that are used to meet daily needs and country’s legal requirement in a company. The master chart of accounts must be assigned to each company code. Chart of accounts COA can be divided into below types − Operating Chart of Accounts It contains all General Ledger accounts that are used to meet daily needs in a company. Operating chart of accounts has to be assigned to a company code. Country Chart of Accounts It contains list of all General Ledger accounts that are required to meet country legal requirements. You can also assign company chart of account to company code. |
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