WHAT IS THE DIFFERENCE BETWEEN NEW GL AND CLASSIC GL?
Answer / meeravali
New GL and Classic GL are two ways to implement General Ledger functionality in SAP ECC5 and ECC6. New GL provides lot of benefits over classic GL. The New GL benefits
- Provide an extension to the existing functionality in classic GL, or
- Provide new functionality compared to classic GL, or
- Provide a technologically superior way to perform a functionality in Classic GL
It is imperative to understand the differences between Classic and New GL to be able to understand which solution addresses the business requirements better. I am providing a comparative analysis of the basic differences between Classic and New GL.
(1) Extended Data Structure provides flexibility
SAP has consolidated the multiple totals table (GLT0, GLPCT, etc) in classic GL into a single FAGLFLEXT Totals table with New GL. One Summary Table provides flexibility and faster response time for reporting. FAGLFLEXT can also be enhanced by adding customer defined fields.
(2) Segment Reporting to ensure Statutory Requirements
IAS accounting standards define the statutory requirements for segment reporting. New GL has document splitting functionality that enables segment reporting. Standard Segment Reporting functionality is not available in Classic GL.
(3) Real Time Integration between FI and CO
Classic GL has the period-close reconciliation ledger functionality to synchronize FI and CO for cost transfers across functional area, business area and company code originating in CO. New GL has a real-time integration between FI and CO that happens with each transaction originating in CO instead of a summary posting done by reconciliation ledger during period-close.
(4) Parallel Accounting
New GL provides Non-leading ledgers for parallel accounting like IFRS and GAAP. Parallel accounting can also be implemented using Account based approach which is also available in classic GL.
(5) Reduce TCO by Faster Period Close Activities
Faster Period Close is possible with New GL as,
(a) Reconciliation Ledger is not required
(b) Balance sheet Adjustments are not required
(c) Profit and Loss Adjustment are not required
(d) Activities related to Special Purpose Ledger are not required
(e) Depreciation posting is online instead of a batch session
(6) Flexible Drill-down Reporting in New GL
New GL has advanced drill-down capabilities by segment and other characteristics.
Is This Answer Correct ? | 4 Yes | 0 No |
What is activity-based costing? : co- general controlling
Explain the difference between Country chart of accounts nd group chart of accounts
I have set up 2 Banks suppose 1)ICICI and 2)SBI and I want to print.. the passbook for both ...where we customise these settings (T.code) ?
What is asset capitalization date? and asset value date...what is difference between them. I have come across definitions still not clear...can any body explain with example...Thank you.
explain automatic payment program? : fi- accounts payable
what is payment terms. what is the diff. b/w terms of payment and payment terms
Reconciliation Ledger?
Tell me the SO (sales Order) to Collection in sap with Accounting Effect.
which fields we cannot control through the field status groups at the time of document posting?
What data is required for automatic a/c determination?
Hello Guys, Can any1 help me with a SAP FICO teacher/tutor who can teah me.. i have finance domain knowledge just wana explore more in SAP FICO. Kindly help me or guide me in reading or gettingb trained in SAP FICO Thank You, 9341890232
I cant see fields like customer, sales org in FBL3N while it appears in Profitability Analysis. Please help? How can I see these fields?