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Former Member

How to identify whether G/L account is asset or Liability

Hi,

Can you please let me know how to identify whether G/L account is asset account or liability account in balance sheet?

Regards

Nagendra

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    author's profile photo Former Member
    Former Member
    Posted on Sep 19, 2008 at 06:46 AM

    Hi,

    Check your accout groups in OBD4.Check the particular GL account is in which account group.

    Regards,

    Satish Muvva.

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  • author's profile photo Former Member
    Former Member
    Posted on Sep 18, 2008 at 02:28 PM

    Nagendra

    Accounts are created as per account groups. These should be indicative as to what account it belongs to. The grouping in your FSV should tell you whether it is an asset account or a liability account. Also generally as a best practice the accounts are created in a series. For ex: 100000 to 199999 Assets, 200000 to 299999 - Liabilities, 300000 to 399999 - Expenses etc.

    Hope this clarifies. Let me know if you need anything else.

    Karthik

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  • Posted on Sep 19, 2008 at 06:22 AM

    Hi

    Based on Account groups we can identify whether GL Account is Asset or Liability A/c

    Account groups are created in such a way to identify the above difference say

    100-199 Expenses

    300-399 Revenue

    500-599 Assets

    700-799 Liabilities

    You can create Account Group at TCode OBD4

    Cheers

    Srinivas

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  • author's profile photo Former Member
    Former Member
    Posted on Sep 19, 2008 at 06:36 AM

    Just display the account using FS00 and you can see whether it is a P&L or Balance Sheet account in the first session itself. 'Control in chart of accounts' radio button indicating the same.

    Regards

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