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

[Former Member]

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

[Former Member · Accepted solution]

Hi,

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

Regards,

Satish Muvva.

[Former Member]

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

[srinivasa_maruvada]

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

[Former Member]

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