Learn more about the general master data of a G/L account in order to avoid posting errors and standardize evaluations.
General information for the G/L account
The following mandatory fields must be entered in the General area:
Account number
Account name
Account type (asset, liability, asset/liability, costs, revenue)
The account type is color-coded in the work reports with balance sheet character and supports the structure of the financial reports.
- green, asset account
- blue, liability account
- grey, asset/liability account
Account numbers with leading zeros:
Make sure to enter account numbers with leading zeros (e.g. 0027 instead of 27) so that they are sorted correctly.
Additional features for G/L accounts
Use selection fields and checkboxes to define how the account may be used:
Characteristic | Meaning |
Blocked for postings | Account does not appear in selectors (drop-down selection aids) and cannot be posted to manually. |
Can be posted to directly | If deactivated, the account is only posted to via automatic processes (e.g. receivables or VAT accounts). |
Reconcilable | Account is available for G/L account reconciliation. |
Financial account | Triggers the transfer posting of sales tax for actual taxation and posting against a customer account with clearing. |
Account indicator
Account indicators determine where the account is available and help with plausibility checks.
Examples
Trade receivables from goods and services
Trade payables
→ Automatic allocation as a collective account when creating creditors or debtors.VAT / input tax
→ These accounts appear automatically in the tax matrix.
Accrual contra account
For accrual postings(ARAP / PRAP), it is often not possible to post against the original account, as this is permanently linked to a tax key.
The deferral contra account is used instead.
Note:
- The offsetting deferral account should not use a tax key.
- This does not refer to the prepaid expenses or deferred income accounts (balance sheet).
Best practice
Use clear and meaningful account names.
When referring to tax percentages, the rate should be visible in the name (goods movement 19%)
Use blocking characteristics deliberately to avoid incorrect postings.
Tags:
#G/L account #accounting #master data #chart of accounts #plausibility check
#PRAP #ARAP