SAP Financial Accounting (SAP FI) Practice Exam

Which component is mandatory to make a general ledger account ready for posting?

1. Account group

2. Cost element

3. Company code

4. Control area

The correct answer is: Company code

To make a general ledger account ready for posting in SAP FI, the company code is essential. The company code represents the smallest organizational unit in accounting that can independently create a complete set of financial statements, including a balance sheet and income statement. It is required for posting transactions to ensure that they are recorded in the context of a specific legal entity or business segment. Only after an account is assigned to a company code can it be utilized for financial transactions, enabling proper financial reporting and compliance within that organizational context. The account group, while important for defining characteristics of the GL accounts, is not mandatory for allowing postings. Cost elements relate to controlling and are not necessary for basic posting functionality. The control area pertains to management accounting and is not inherently required for general ledger postings. Therefore, the focus is on the company code as the critical element that enables operational and legal compliance for postings within the general ledger.