Answer / paladugu08

How does Parallel Accounting works in SAP (FICO)?
Requirement is; a leading ledger is created in the system
(0L – ledger = GAAP). Then another ledger should be created
and classified as non-leading ledger (1L – ledger = TAX).

All financial transactions in the system are posted to both
ledgers if no ledger is specified in the transaction. If
you generate a financial statement or gl account report,
both ledgers contain the data of the transaction posted.

To post only to specific leger (e.g. 0L – ledger), the
Ledger Group field in the header should be filled-up with
0L – ledger. The transaction won’t affect the other ledger
(1L – ledger).

Configuration Steps:
1. Define Ledgers for General Ledger accounting
2. Define Currencies for Leading ledger
3. Define and active non-Leading ledger.

Answer / mathi

The above answer is correct

How do you ensure correct balances in the financial statement? : fi- general ledger master data

0 Answers  

---

Kindly give me suggestion about Dunning for Vendors how can do the Vendor dunning, kindly provide the one by one required steps…

3 Answers  

---

What is the difference between open item display & line item disply in GL creation???

6 Answers  

---

What do you mean by the acquisition and production costs?

0 Answers  

---

What are the application areas that use validation and substitutions?

0 Answers  

---

what is the configuration steps of cash flow statement?

0 Answers  

---

Hi, can any post the sap entries

1 Answers   SAP Labs,

---

how we will start implementation what r the raw material i.e basic information requried when we start implementation

0 Answers  

---

in which process vendor data are uploaded in bdc

1 Answers   Cap Gemini,

---

What is sort key and how it controls?

3 Answers   IBM, Zensar,

---

What is account group? What does it control?

0 Answers  

---

What do you mean by chart of accounts? What is it used for? What are its important elements? How many chart accounts can be assinged to a company?

0 Answers  

---