Finance & Controlling
What is G/L Account?
An account in the chart of accounts used to record balances and postings for a specific purpose in the ledger.
GL account master data has a chart-of-accounts segment and a company-code segment. In S/4HANA the GL account type (balance sheet, P&L, primary or secondary cost) also replaces separate cost element master data. Field status groups on the account control which fields are required during posting.
Related transaction codes
Related terms
Chart of Accounts
The list of GL accounts available to one or more company codes, defining account numbers and descriptions.
General Ledger
The complete record of all financial transactions of a company, organized by GL account.
Cost Element
A CO classification of costs and revenues; in S/4HANA it is a special type of GL account rather than separate master data.
Field Status Group
A setting on a GL account that controls whether fields are suppressed, required, or optional during posting.
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