Answer / sunil

The new GL functions include “Parallel Accounting” , it’s
an SAP feature where you can maintain different sets of
books to satisfy all different requirements of Financial
Statement users accurately, efficiently and effectively.
Standard reports are already available and readily
available to use.

Answer / ravi kumar reddy

In General Ledger Accounting, you can perform parallel accounting by running several parallel ledgers (general ledgers) for different accounting principles. During posting, you can post data to all ledgers, to a specified selection of ledgers, or to a single ledger:

The data required according to the accounting principle for the consolidated financial statements is managed in the leading ledger of the general ledger (see also Ledgers). This leading ledger is integrated with all subsidiary ledgers and is updated in all company codes. This means that it is automatically assigned to all company codes.
For each additional (parallel) accounting principle, create an additional (non-leading) ledger in General Ledger Accounting.

Answer / pk

Parallel accounting is New GL concept which has introduced in ECC by SAP.It helps to maintain and generate the financial reports of the company as per different accounting priciples in parallel. We have two approches in parallel accounting such as Account based approch and ledger based approch. Account based approch is a classic approch and parallel ledger is new approch which has introduced from ECC.

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