How to Create G/L General Ledger Account Master Record

G/L General Ledger Account Master Record can be created at different levels
Centrally (FS00 Centrally)
Chart of Account Level creation (FSP0 In Chart of Accounts)
Company Code Level Creation (FSS0 In Company Code)
SAP R/3 Menu Path :- Accounting >Financial Accounting >General Ledger >Master records >G/L
Accounts >Individual Processing >Centrally
Transaction Code :- FS00
Steps to create New General Ledger Account Master Record
Step 1 :- On the Edit G/L Account Centrally screen, update the following entries:
1. G/L Account :- Enter the account number of the G/L account that is being created
2. Company code :- Enter Company code ID Key
3. Choose Create icon to create a new General ledger Account.

Step 2 :- After click on Create icon update the following fields
Control in Chart of Accounts
1. Account Group :- The account group determines the fields for the entry screens . The account group
determines which number interval the account must be GL account to be created. Click the drop
down menu and select appropraite account group for the GL account
2. P&L statement account type :- If GL account is for P&L account, select this field
3. Balance sheet account :- If GL account is for Balance Sheet account, select this field
Short text :- Enter the Short description of the GL Account
G/L acct long text :- Enter the long description of the GL Account.
Consolidation Data in Chart of Accounts
Trading partner :- Trading Parting partner is used to prepare consolidated financial statements

Step 3:- Choose the Control Data tab and update the following
Account control in Company Code :-
1. Account currency :- Update the currency in which the account will be managed
2. Only Balances in Local Currency :- This field used to update the balance only in local currency when
users post items to this G/L account
3. Exchange Rate Difference Key :- Use the drop down Menu and select Exchange Rate Difference Key
4. Tax category :- Use the drop down menu and choose tax code key if account is tax relevant
5. Posting with out tax allowed :- Select box if posting for the accounts is without tax
6. Recon. account for account type :- select the drop down menu and select Asset or Customer or
Vendor if account is for Reconciliation account.
7. Alternative account number :- It may be used to indicate the account number from the legacy system.
8. Tolerance group :- Select this field for open item clearing differences
Account Management in Company Code :-
9. Open item management :- Select this field if account to be display as per open item lines, open item
management is used for only balance sheet accounts.
9. Line item Display :- Select this field if account to be display as per line item.
10.Sort key :- Select Drop down menu and select appropriate sort key for the account

Step 4:- Select Create/Bank/Interest tab
Control of Document Creation in Company Code :-
1. Field status group :- FSG determines the screen layout for document entry. select drop down button and
select appropriate FSG Key.
2. Post automatically only :- Check box if account can posted by the system using account determination
table
Bank/Financial Details in Company Code :-
3. Planning level :- planning level field is used to control displays in Cash Management.
4. Relevant to cash flow :- Relevant to cash flow field determines that the GL account is a cash flow account
5. House bank :- click drop down menu and select if account is Indicator for the company bank
6. Account ID :- Account ID field determines House Banks of account
Interest Calculation Information in company code :-
7. Interest indicator :- Click drop drop button and select interest calculation indicator if the account is to be
included in automatic interest calculation.
8. Interest calc. Frequency :- Click drop drpp button and select Interest calc. Frequency if the interest is to be
calculated automatically for this account at intervals
9. Key date of last int. calc :- Click drop drop button and select Key date of last int. calc, that the date of last
time interest calculation program processed for this account.
10. Date of last interest run :-The date of the last interest run calculation for this account

Step 5 :- Click on Save icon to save the configured entries.