What is the best practice to create Chart of Accounts

Hi Everyone,
I am new to SAP FI/CO. My question is...which is the best to create chart of accounts? Is it by copying from standard SAP Chart of Accounts (like CAUS) or to create from scratch. Please explain me the reason too.
Thanks in advance,
Sandeep

Hi,
Adding on to the comments made by people, Chart of accounts creation process depends entirely on the requirement of the client's business. Going on with my experience I would suggest first to study the existing chart of accounts from the legacy system of client. Have a discussion on it with FI business process owners regarding removal of some redundant accounts, addition of some new accounts and specifically examine each and every account with in digfferent account groups.
Many a time it happens that people get an GL account created but they seldom use it. The job of a good consultant is to identify such anamolies and get it corrected. I am mentioning below some of the standard ways of creating a chart of accounts and you can use one of the way depending upon your convenience and requirement.
You have various options for creating G/L account master records in the system:
Using a reference- You can copy G/L account master records from an existing company code and then change them.
Use this procedure if you want to use a chart of accounts included in the standard system or if you want to use an existing chart of accounts as a reference. The advantage of using a reference is that the account assignment is also copied. This ensures the integration of General Ledger Accounting with other application components.
Data Transfer Workbench- You can copy G/L account master records from an external system and then change them.Use this method if you have your G/L accounts in a non-SAP system and want to transfer them to your SAP System.
Copy G/L accounts- You can copy G/L account master records by copying a chart of accounts and then the company code.You should only use this method if there is a chart of accounts in your system that exactly meets your requirements. If you need to make changes to the chart of accounts, your should complete this using a reference method.
Create manually- You can create G/L accounts master records by manually creating each individual G/L account.The method is quite time consuming. You should only use it if you are certain that the standard SAP System nor any other system contains a chart of accounts which you could use as a reference.
Hope this helps you. Let me know if you need any other information.
Rgds
Manish

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