How does Parallel Accounting works in SAP (FICO)?

Requirement is; a leading ledger is created in the system (0L – ledger = GAAP). Then another leger should be created and classified as non-leading ledger (1L – ledger = TAX).

All financial transactions in the system are posted to both ledgers if no ledger is specified in the transaction. If you generate a financial statement or gl account report, both ledgers contain the data of the transaction posted.

To post only to specific leger (e.g. 0L – ledger), the Ledger Group field in the header should be filled-up with 0L – ledger. The transaction won’t affect the other ledger (1L – ledger).

Author: fico-expert.blogspot.com

Viewed 8925 times by 3625 viewers

Bookmark SAP Tutorial:

Highlights and Key Functionality of SAP ECC 5.0/6.0 that different from SAP R/3:

1. New: General Ledger extensions:

The folloing are new features:

• Organisations can add dimensions to General Ledger as needed or as business evolves
• Extendible General Ledger that uses standard data structure
• Maintains existing functionality from your current General Ledger in SAP R/3 or R/3 Enterprise

Benefits of new general ledger extension are:

• Quickly modify General Ledger to fit business needs
• Reduce requirements for technical migration or training
• Eliminates need to maintain separate special ledgers

2. New: Parallel Ledger

There are many features as below:

• Provides additional functionality for “parallel ledgers” to supportparallel accounting and to reduce costs
• Organisations can use an identical interface and identical functions to process all ledgers in the general ledger, as well as update ledgers individually or simultaneously

And benefits of new parallel ledger are:

• Reduces manual postings to individual ledgers
• Enables greater efficiency of accounting staff
• Document numbering improves internal control for managing parallel ledgers

Viewed 8958 times by 4100 viewers

Bookmark SAP Tutorial: