different between general ledger accounting and New G/L
accounting? pls expline

Answer Posted / james bond

The main differences are
a. Business scenarios
b. Document splitting

a. Business Scenarios: If you are using classic GL there is
a possibility your chart of account can have large number of
accounts. Since you want to capture every level of details
the chart of accounts grows in size. With New GL what you
are trying to do is maintain fewer number of accounts and
still get to same level of details. They way you implement
this is by allowing a single GL account to be used in single
or multiple scenarios (there are 6 scenarios).
Asset module analogy will make it much easier. You maintain
different books (depreciation area). Say you have 3 book
areas 10, 20 & 40. When
capitalization/acquisition/retirement/sale happens; each
business processes impact these books differently based on
the dep. area setting.

b. Document Splitting: Lets say you buy office supplies for
your company (say 5000 p.m). Now your company wants to see
how much was spent on papers, cartridges, copier, markers
and etc. With document splitting you are able to break down
the 5000 p.m. to 2000 (paper) 1000 (cartridges) 1000(copier)
1000 (markers).
Basically its the ability to see the details at minutest level.

Hope this helps.....

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