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SAP FI GL Accounting (FI-GL)

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99 views2 pages

SAP FI GL Accounting (FI-GL)

Uploaded by

Arnab Samanta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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SAP FI GL Accounting (FI-GL)

Overview General Ledger Accounting (FI-GL) (New)...................................................................................1


Configuring New General Ledger Accounting..............................................................................................2

Overview General Ledger Accounting (FI-GL) (New) 


 The central task of G/L accounting 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
 Beyond fulfilling the legal requirements, General Ledger Accounting also fulfills other requirements
for modern accounting:
1. Parallel Accounting: General Ledger Accounting allows you to perform parallel accounting by
managing several parallel ledgers for different accounting principles.
2. Integration of Legal and Management Reporting: In General Ledger Accounting, you can
perform internal management reporting in parallel with legal reporting. For this purpose, the
Profit Center Accounting functions are integrated with General Ledger Accounting.
Furthermore, you can generate financial statements for any dimension (such as profit center).
3. Segment Reporting: General Ledger Accounting supports the segment reports required by the
accounting principles IFRS (International Financial Reporting Standards) and US GAAP
(Generally Accepted Accounting Principles). For this purpose, General Ledger Accounting
contains the Segment dimension.
4. Cost of Sales Accounting: You can perform cost of sales accounting in General Ledger
Accounting. For this purpose, General Ledger Accounting contains the Functional
Area dimension
 General Ledger Accounting comprises the following functions for entering and evaluating posting
data:
1. Choice between group level or company level
2. Automatic and simultaneous posting of all subledger items in the appropriate general ledger
accounts (reconciliation accounts)
3. Simultaneous updating of the parallel general ledgers and of the cost accounting areas
4. Real-time evaluation of and reporting on current posting data, in the form of account displays,
financial statements with different balance sheet versions, and additional analyses.
 In this way, General Ledger Accounting automatically serves as a complete record of all business
transactions. It is the central and up-to-date component for reporting. Individual transactions can be
checked at any time in real time by displaying the original documents, line items, and monthly debits
and credits at various levels such as:
1. Account information
2. Journals
3. Totals/transaction figures
4. Balance sheet/profit and loss evaluations

Configuring New General Ledger Accounting


 The steps for GL configuration are:
1. Activate New General Ledger Accounting.
2. Make the general settings for the fiscal year, the posting periods, and the currencies.
You find the settings for the fiscal year and posting periods in Customizing for Financial
Accounting (New)under Financial Accounting Global Settings (New) ® Ledgers ® Fiscal
Year and Posting Periods.
3.  Configure your ledgers.
4.  Define the integration with Controlling.
5.  Where applicable, set up parallel accounting.

Activating General Ledger Accounting


 To make the settings and use the functions in General Ledger Accounting, you have to activate it.
 To do this, in Customizing choose Financial Accounting ® Financial Accounting Global Settings ®
Activate New General Ledger Accounting.

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