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Jan 30, 2023 at 07:23 PM

GL Accounts creation - Account determination - India

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We are working on a S4 HANA Public cloud implementation in India. I have a few questions as below

1. We will adopt the Standard Chart of Accounts YCOA for our company code. However, we will need some changes

FI-MM - We will have to configure 2-3 new valuation classes for imported materials - we plan to do it by creating new GL as a copy of existing Material relevant GL within the available number ranges and modify the Account determination to include these new valuation classes.

FI-SD - We will need few Account assignment categories for Account determination of Sales/revenue GL Account - We plan to create new categories and modify the SD Account determination for the new categories

Tax - GST - We will need additional GL accounts for the tax registration for each type of taxes i.e. CGST/SGST/IGST - we plan to create new tax codes and create new GL as copy of existing tax GL provided as default and configure the account determination for taxes.

Withholding tax - We will need additional GL accounts for TDS/WHT - We plan to create new codes and create new GL as copy of the default provided and configure it in the account determination for WHT.

Other GL - We will need new GL for other accounts such as term loan etc - we plan to create them as new GL by copying the existing relevant GL from default and within the same number range which is available and which are free.

For all the above we will not use the renumber GL app since we are adopting the ones provided and creating new ones.

Please advise if the above approach for each type of change is correct or is there any other way of doing it.