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New GL: Basics of New General Ledger
New GL: Basics of New General Ledger
Contents
Why use the New GL?? Settings for new GL New GL- An Users Perspective Reporting
Controlling
Non-leading Ledger- Based on local accounting principles => Assignment to alternate currencies & fiscal year variant that differ from that of leading ledger. Ledger group- Grouping of ledger created for the purpose of applying the function of accounting to all ledgers. A representative ledger defined with in the ledger group determines the posting period for all the ledgers included in that ledger group. Segments() FI account assignment object derived from the master data of Profit center. Used for segment reporting. * Excerpt from IAS 14: reporting is required for a business or geographical segment when the majority of its revenues stems
from sales to external customers and segment revenues account for at least 10% of total internal and external revenues of all segments, segment income accounts for at least 10% of all segment income, or segment assets account for at least 10% of the assets of all segments
Segment is a FI account assignment object and is derived from profit centre master data. The corresponding segment is automatically updated for the relevant profit centers. The segment can be updated from BADI s also (FAGL_DERIVE_SEGMENT).
To post, analyze and display document segment in the new GL, the following steps are required. Define the segments in configuration. Derive the segments- SAP supports derivation of segment from profit centre master data. Maintain the field status variant of the required FI accounts. Assign the required scenario to relevant ledgers.
Parallel financial accounting means that financial statements have to created in accordance with different accounting rules. Business reason- Accounting in local view is no longer sufficient by itself in the globalised world of business partners. Internationally recognized accounting standard such as IFRS are the need of the hour. New GL lets you use different ledgers as per different accounting principle. In SAP system each client has one leading ledger & essentially more than one non leading ledger.
The use of non leading ledger makes it possible to use a different fiscal year variant with in the same company code. In earlier versions of SAP it was not possible to use different fiscal year with in the same company code.
Fiscal year variant for leading ledger derived from Company Code .
Fiscal year variant for non leading ledger different from leading ledger .
In Asset accounting it is still not possible for depreciation areas to have fiscal year variants with different start & finish dates. If a fiscal year variant is assigned to a depreciation area with different start & finish dates, the system issues error message. Possible solution- In the New GL in Asset Accounting, it is still not possible for
depreciation areas to have fiscal year variants with different start and finish dates. If you try to assign a fiscal year variant to an area, whereby the fiscal year variant infringes this restriction, the system issues error message AC 531.However, you can assign a ledger group to this area for an inconsistent valuation, whose ledger has different fiscal year variants to the valuation area in Asset Accounting. This is both technically possible and a desired function..
SAP contends that this issue arises because of technical restrictions. Refer SAP Notes No- 844029
New GL has the ability to provide profit & loss statement of the organization based on cost of sales accounting principle. For this, all the expenses incurred are allocated to functional areas in SAP system.
New GL Reporting-(i)
Reports in New GL
The standard RFBILA00( Financial Statements) is still available in New GL. The new feature includes the ability to run the report for non leading ledgers.
New GL Reporting-(ii)
Reports in New GL
New GL has the ability to give the financial statement as per the requirement (either at company code level or organization level below it). The dynamic selection button ( ) on the report screen gives the flexibility to select additional entries such as profit centre, functional area etc. By navigating through the drill down reporting (S_PL0_86000028) it is very easy to turn a company code report to a profit centre report.