New General Ledger Configuration in SAP ECC 6.0

The main purpose of G/L accounting in SAP is to provide a comprehensive picture of external accounting and accounts. Recording all business transactions (primary postings as well as settlements from internal accounting) in a software system that is fully integrated with all the other operational areas of a company ensures that the accounting data is always complete and accurate.

In this document, you will find in-depth overview and configuration process flow of New General Ledger in SAP ECC 6.0

  • Brief Overview of Parallel Accounting, Integration of Legal and Management Reporting, Segment Reporting, Cost of Sales Accounting
  • Activate New General Ledger Accounting: SE11 / FAGL_ACTIVEC
  • Compage Ledgers GCAC
  • Deactive of Updation to the Classic General Ledger (GLT0)
  • Define Ledgers for General Accounting
  • Define Currencies for the Leading Ledger
  • Define and Activate Non-Leading Ledger
  • Assign Customer Fields and Scenarios to Ledgers
  • Define Ledger Groups
  • Document Splitting Settings & Configuration
  • Extended Document Splitting

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Parallel Accounting in New General Ledger

The new GL functions include “Parallel Accounting”, it’s an SAP feature where you can maintain different sets of books to satisfy all different requirements of Financial Statement users accurately, efficiently and effectively. Standard reports are already available and readily available to use.

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).

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