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What is a chart of accounts in SAP FICO?

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In SAP FICO, the Chart of Accounts (COA) is outlined at the consumer level and allotted to every company code. Here is a list of the General Ledger account’s master data that falls under different account groups of company code. This grouping mechanism helps to develop better financial reports.

There are 3 kinds of Chart of Accounts, viz

Operating a chart of accounts: they're accustomed to posting daily expenses. The accounts in the operating Chart of Accounts can be either expense or revenue accounts, and the information is shared by Finance as well as Controlling modules.

Group Chart of Accounts: These are accounts utilized by the entire company group. They help in generating reports at the corporate.

Country-specific chart of accounts: This Chart of Accounts facilitate meet country-specific legal needs

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