- the number interval in which the G/L accounts have.
- which fields are suppressed/required/optional/displayed entries when creating and changing master records.
When we create a G/L account, we must specify the account group of that G/L account.
We use account groups to combine G/L accounts according to the above characteristics. For example, we define an account group for Current Assets, an account group for Fixed Assets, an account group for Liabilities, an account group for Equity, and other account group for P&L; accounts. You can define your own account group according to your accounting business process needs.
Account groups for G/L accounts are based on the chart of accounts (COA). Usually, a COA has some account groups that can be the same or different with account groups of other COAs.
We can define Chart of Accounts with “OBD4” T-code or through “SPRO” T-code menu: Financial Accounting – General Ledger Accounting – G/L Accounts – Master Records – Preparations – Define Account Group.
You can download the video training of how to Define Account Group.