Interested to Buy Any Domain ? << Click Here >> for more details...
What is the Difference between Classic GL, New GL
from Controlling point of view.
- 1 Answers
- 8790 Views
- Cap Gemini, IBM, I also Faced
- E-Mail Answers
Answer Posted / anji
New GL accounting is the new funcationality which came into existence from ECC 5.0 Version in SAP which we call as my SAP ERP. Upto SAP 4.7EE we are using Classical GL Accounting. In Classical GL accounting General Ledger, Profit Center Acting, Reconciliation Ledger, Business Area, Spl Prupose Legers and Cost of Sales Accounting are different components but all these are incorporated in New GL accounting.
The New funcationalites included in New GL Accounting are,
1. Extended Data Structure:- This allows us to activate additional fields(e.g., segment) in the New GL table.
2. Parallel Ledgers:- This provides the ability to produce different sets of financial statments.
3. Document Splitting:- This allows real-time allocation of an account assignment object to all your balance sheet postings, this is particularly relevant when you have postings from subledgers.
4. Improved Management Reproting:- Profit centers are now part of GL, which allows you to produce departmental or management accounts directly from the GL.
5. Segment Reproting:- A segment is a new account assignment object that can be used to produce segment reports to provide an additional dimension. It helps in running analyses for objects at a level lower than company code. This is in line with the IFRS/IAS segement reporting requirements.
6. Fast Close:- A reduction in the amount of time needed to complete the period end cycle enables a fast close to be completed.
| Is This Answer Correct ? | 5 Yes | 1 No |
Post New Answer View All Answers
How is cost center accounting related to profit center?
How do I set a flag for a field in any table?
Will first logic’s global data quality connector for sap manage my international data?
Explain the organizational assignment in the controlling module?
What is the difference between profitability analysis and profit center accounting?
What are the interaction with abaper in project especially for screens, conditions and cutover plan?
What is the use of fi-asset accounting component?
Dear experts can you please explain to me whether a vendor/customer master data have 2 different terms of payment in the company code segment and the purchasing organization/sales area segment simultaneously??
Explain the configurations required for taxes in sap?
What is the meaning of ADHOC P.O's Do we create Adhoc P.O's to our regular Vendors.What are the Tax aspects in this Issue.
Explain asset accounting? : fi- asset accounting
How many numbers of line items in one single entry you can have?
what mean ny cut over activities, p/l, b/s amount how will update
What is a abap/4 module pool?
How does postings happen in mm during special periods?
