Chart of Accounts
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.
S AP replied
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.