Why SAP Introduced New SAP GL?
The following SAP Training Tutorials Guides detailed introduction about new SAP GL (General Ledger) and Why SAP was introduced. It is mandatory to refer what is SAP GL accounting before reading this topic.
There has been drastic changes in Markets and the pillars of accounting were shaken. Due to this changes financial accounting of organizations also changing, so to fulfill this changes New SAP General Ledger Accounting has introduced. Most of the companies are rapidly spreading across the nations with various laws. For every Multi National Companies, New SAP GL should be implemented for complete external/internal reporting and accounting as per legal requirements.
New SAP GL
Advantages of New SAP GL
The New SAP General Ledger has the following advantages than classic SAP GL accounting in R/3 systems.
User Defined Fields: – It is one of the most important features of SAP NEW GL, you can configure customized defined fields as per User/Customer requirements. For E.g. order number, GL Segment, custom fields, reports as per requirements, etc.
Parallel Accounting: – It is a new feature of SAP New GL that helps to prepare statements based on different principles of financial accounting.
How the Parallel Accounting Working in SAP –
- When Ledger is created in SAP System (0L – Ledger = GAAP), than another ledger to be created which is non ledger account (IL – Ledger = Tax).
- When the transaction are done, accounts are posted in both ledger account and non ledger accounts if you don’t specify.
- If transactions are posted in particular ledger, than GL group field header is filled up with 0L – Ledger.
Document Splitting: – By using this feature, you can split the expenses as per profit centers, segments, etc. Sometimes BL and P&L accounts are needed at characteristic level preferable of company code level. In previous this splitting was managed with the helps of Abap programs, now New SAP GL handles all this functions through document slitting.
Multi Dimensional: – In previous, Separate modules/special ledgers are needed to implement for analyze the financial date. In New SAP GL, fields like Profit center, segment, cost center are added as standard fields. So financial reporting can be extracted directly from new GL.
Real Time Integration of FI and CO: – In the Previous, the Transaction code “KALC” is used to reconcile SAP FI and CO manually. With the new GL, SAP Financial Accounting and Controlling integration is real-time so you don’t need to reconcile manually.
Configuration steps of New General Ledger
The following steps are required to configure the New SAP GL.
- Define Ledgers for General Ledger Accounting
- Define Currencies of Leading Ledger
- Define and Activate Non-Leading Ledgers
- Assign Scenarios and Customer Fields to Ledgers
- Activate cost of sales accounting
- Define Ledger Group.