Lesson 3 of 5
Company code settings
6 min
A G/L account has two layers of master data. The chart of accounts data (number, type, account group, names, group account) is shared by every company code using the chart. The company code data (currency, open item management, field status and more) is maintained for each company code that uses the account. An account can exist in the chart without being usable in a company code until its company code data is created.
You maintain both layers in the Fiori app Manage G/L Account Master Data, or in the classic transaction FS00 in Private Edition and on-premise. The app lets you display an account across company codes and copy an existing account as a template.
The key company code fields
| Setting | What it does | Example at Contoso |
|---|---|---|
| Account currency | Currency of the account; usually the company code currency | USD for all 1710 accounts except foreign currency bank accounts |
| Only balances in local currency | Keep balances only in company code currency; used for accounts like GR/IR and clearing accounts | Set on GR/IR clearing |
| Open item management | Postings stay open until cleared against each other | GR/IR clearing, bank clearing, salary clearing |
| Line item display | Line items can be displayed for the account | On for operational accounts |
| Sort key | Fills the assignment field on line items to sort and match them | Purchase order number on GR/IR |
| Field status group | Decides which fields are required, optional or hidden when posting | Expense accounts require cost center; bank accounts require value date |
| Reconciliation account for account type | Makes the account a reconciliation account for customers, suppliers or assets | Domestic receivables |
| Post automatically only | Blocks manual postings; only automatic postings (for example from account determination) allowed | Inventory and GR/IR accounts |
| Tax category | Which tax codes may be used, or that the account is not tax relevant | Revenue accounts require output tax codes where applicable |
Important company code settings for a G/L account.
Field status: why a field is required
When you post a line to an account, some fields are required, some optional and some hidden. This comes mainly from the account's field status group, which points to a set of field rules in the company code's field status variant. The posting key used on the line also has field rules. Where they disagree, the stricter rule wins: if either says "required," the field is required, and if one says "hidden" and the other "required," the combination is an error that configuration must fix.
- User enters a lineG/L account and posting key (debit or credit) on a journal entry
- Read field status groupFrom the account's company code data, in the company code's field status variant
- Read posting key rulesEach posting key also marks fields as required, optional or hidden
- CombineThe stricter rule wins for each field
- Show the screenRequired fields must be filled before the entry can be posted
In Public Edition, many accounts and their company code settings come predefined with the YCOA content, and new accounts are typically created by copying a similar delivered account so that settings are consistent.
What would you do?
A key user creates a new GR/IR-type clearing account for a special import process but forgets to set open item management. Goods receipts have been posting to it in the test system for a week. What should happen before production?
- G/L master data has chart-level data shared by company codes, company code data per company code, and controlling area data for cost accounts.
- Key company code settings: currency, balances in local currency only, open item management, line item display, sort key, field status group, reconciliation type, post automatically only, tax category.
- Field status group plus posting key decide required fields; the stricter rule wins.
- Decide hard-to-change settings such as open item management before the first posting.
Check your understanding · not graded
Lesson check
1. Which setting lets postings stay open until cleared against each other?
2. What decides which fields are required when posting to an account?
3. Which setting blocks manual postings to inventory accounts?
4. Which Fiori app maintains G/L account master data?