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What is a company code? How does it relate to the chart of accounts?

April 26, 2017accounts chart code COMPANY relate

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What is a company code? How does it relate to the chart of accounts?

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In SAP terms, a company code represents the smallest organizational unit for which a complete self-contained set of accounts can be drawn up for purposes of external reporting. There will be one company code – UK00 – for the University and thus one chart of accounts for UK00.