What is the Difference between Classic GL, New GL
from Controlling point of view.
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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.
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