It is a legal and independent accounting unit which represents as the smallest organizational unit in external accounting. For Example: a company within a corporate group or a subsidiary.
The company code is responsible for the entry of all accountable transactions and the creation of all proofs for a legally required individual account closing, such as the balance sheets and the profit and loss statement.
A client can have one or more company code assigned to it. But you can assign a company code exclusively to a client.
All the company codes use the same chart of accounts
To define a Company code you can follow the following menu path:
IMG à Enterprise Structure à Definition à Financial Accounting à Edit, Copy, Delete, Check company code à Edit company code data à Click on New Entries on the application toolbar à Define your company code by filling the data in the required fields.
After entering the required data Save and Exit
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