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Can any body explain what configuration steps are required for
parallel accounting (parallel ledger) in new GL ?
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Answer Posted / 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.
| Is This Answer Correct ? | 14 Yes | 1 No |
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