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How to Prepare your Company’s Chart of Accounts for Electronic Accounting in Mexico

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The first step to report Electronic Accounting in Mexico is to submit your company’s chart of accounts to SAT (Servicio de Administración Tributaria) – the legal institution that regulates taxes in the country. Once SAT approves your company’s chart of accounts, you can report your company’s account balance and further details.

See below a graphic that summarizes this process:

For visually impaired readers: The picture shows a pictograph with Electronic Accounting reporting steps: 1 – Submit Chart of Accounts to SAT; 2 – Chart of Accounts is approved by SAT; 3 – Submit following eAccounting Reports.

You can also find details about Electronic Accounting reporting for Mexico in SAT website.

So, let’s suppose you’re starting the process for reporting Electronic Accounting to SAT. As a first step, you’ll prepare the chart of accounts.

To prepare your chart of accounts, you need to create a new FSV (Financial Statement Version) in your system that is specific for Electronic Accounting. When doing so, make sure that you follow SAT accounts catalog.

After creating an FSV for Electronic Accounting, you also need to add the FSV to ACR reporting entity parameters for the generation of the XML output files of the Chart of Accounts, Account Balance and Auxiliary Report for Accounts reports. This will enable your system to correctly extract data for the output files.

See below a graphic that summarizes the process of preparing a company’s chart of accounts:

For visually impaired readers: The picture shows a pictograph with the steps for preparing a chart of accounts: 1 – Create FSV for eAccounting; 2 – Add G/L accounts to FSV with Grouping Code and Nature; 3 – Add FSV to ACR reporting entity parameters.

Find here a quick guide for you to master the process of creating a company’s chart of accounts 😊:

Creating a Financial Statement Version (FSV) for Electronic Accounting

1. Go to SAP Customizing Implementation GuideFinancial Accounting > General Ledger Accounting >G/L Accounts > Financial Statement Structures > Define Financial Statement Versions (OB58 transaction).

2. Choose New Entries.

3. Enter the following information:

  • Financial Statement Version: Specify an FSV code for Electronic Accounting.

Example: EAMX

  • Name: Specify a name for the FSV.

Example: Electronic Accounting MX Grouping Codes and Nature

  • Maintenance Language: Specify the language in which you will maintain the data.

Example: ES

  • Item keys auto: Leave this field blank. This way, you will be able to manually assign a number for the grouping code according to SAT requirements.
  • Chart of Accounts: Specify a name for the chart of accounts used for Mexico.

Example: INT

  • Group Account Number: Leave this field blank. This way, you will be able to manually fill the accounts number according to SAT requirements.
  • Functional Area Permitted: This field is not relevant for Electronic Accounting.

4. Save your entries. Done! Now you have an FSV created for Electronic Accounting.

Assigning G/L Accounts to a Grouping Code and Nature

Follow the steps below to create grouping codes (FSV items), natures, and grouping code descriptions (item descriptions).

1. Run transaction FSE2 (Change Financial Statement Version).

2. Enter the FSV code that you have created and choose Execute.

3. Choose Create Item.

4. Enter the following information:

  • Item: Enter the grouping code number, as per defined by SAT accounts catalog.

Example: 101.01

  • Item Description: In the first character, enter the account nature, followed by a blank space, and the grouping code description.

Example: D Petty Cash and Cash

For visually impaired readers: The picture shows a structure of an FSV.

5. Save your entries.

6. Once you have created all the grouping codes, select the item (grouping code) that you want to assign your G/L accounts.

7. Choose Assign Accounts, and enter the range of accounts that you want to assign to the item (grouping code) you have selected.

For visually impaired readers: The picture shows a structure of an FSV.

Default Items Created in the New FSV

When you create a new FSV, the system creates some items (grouping codes) by default. These items (grouping codes) are not relevant for Electronic Accounting, so you can delete them.

Tip: If you want to keep the default Not Assigned item (grouping code), make sure that its item description (nature) is set as NA.

Items (grouping codes) that do not have assigned G/L accounts are not considered for the data extraction of the Electronic Accounting reports.

For visually impaired readers: The picture shows a structure of an FSV.

Assigning a Financial Statement Version to a Reporting Entity Parameter

1. Go to SAP Customizing Implementation Guide > Financial Accounting > Advanced Compliance Reporting > Setting Up Your Compliance Reporting (SRFVC_RPG_ENT).

2. Select your reporting entity (MX_REP_ENT – Mexico Reporting Entity).

3. Choose Enter Parameters Specific to Reporting Entity.

4. Add your FSV code to the MX_FSV parameter (Mexico Financial Statement Version).

5. Save your entries. Done! Now you have assigned your FSV for Electronic Accounting to your reporting entity parameter.

We hope this post is useful for you. Now you know how you can prepare a company’s chart of accounts for Electronic Accounting.

Did this post help you? Leave you like and share the content with your colleagues!

Do you have questions about Electronic Accounting for Mexico in ACR? Check our SAP FAQ Note for eAccounting.

You can find the full documentation for Electronic Accounting in ACR in the SAP Help Portal:

SAP S/4HANA Cloud: help.sap.com/viewer/s4h_ce_mexico

SAP S/4HANA: help.sap.com/viewer/s4h_op_mexico

If you still have doubts, don’t be shy and leave us a comment below. We’ll do our best to help you. 😊

See you the next time and stay compliant,

Rosana

#ACR #SAPGoGlobal #SAPLocalization

This post was translated from English into Spanish using the SAP Translation Portal. Check it out!

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