Chart of Accounts

[Former Member]

I understand that there are two options available to use Chart of Accounts:

Option - 1: Create your own Chart of Accounts. Upload all required G/L accounts through LSMW.

Option - 2: Use a Country template , for example CAIN - Chart of Accounts for India. Additionally, create only the G/L accounts that are required and are not in the country template.

Which of these two options is better and why?. Can someone throw light on this please.

[Former Member · Accepted solution]

hi

Please use option one as the requirement of company vary from industry to industry . Also when you choose option one

You have the option to deliberate on companies COA requirements in Details and do proper justice to this important activity.

However you can use CAIN as reference chart of account.

in case you have specific issue please revert back.

thanks

s ap

[NathanGenez]

there is only one option. option 1.

[Former Member]

Hi,

i guess that you'll earn time if you'll use the first option, because for the second one you must check all the chart template to create an account.

add that you'll have accounts how aren't useful for you company if you choose the second option

in my opinion the first option is a peronnel and faster solution

Regards

[Former Member]

Hello Sathyanarayana,

The best option is the first one, if project team is competent enough, otherwise use the 2nd option. The reason is flexibility in the sequence of accounts as well as its contents / details.

Hope this helps!

Ambadas