What is chart of account and how many charts of accounts can
be assigned to a company?
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Answer Posted / viswanadh
Coa is nothing but list of g/l accounts. Normally coa 3 types.
1.operational chart of accounts
2.group chart of accounts
3.country chart of accounts
1.operational chat of accounts: this is chart of accounts to create normally levels. 1.general date 2.company code data
this coa is used to record business transactions for financial accounting & controlling. These are must be assigned to company code.
2.group COA: Group COA mainly used for location wise reporting purpose we can maintain group coa.
if may be maintain for different chart of account for different company codes.
ex: my company codes are in these country's India, USA, UK
group chart of account assign to these country operational chart of accounts.
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