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Chapter 19 Customizing New General Ledger Accounting In this chapter, you learn how to define leading and non-leading ledgers based on the totals table in the new G/L accounts. These ledgers will enable you to perform parallel accounting to meet different accounting disclosure requirements. At the end of this chapter, you will be able to: • Explain what a new general ledger is • Define ledgers for general ledger accounting • Define leading and non-leading ledgers • Define currencies of a leading ledger • Explain what a scenario is • Assign accounting principles to ledger groups • Describe real-time integration of controlling with FI • Define documents for entry view in a ledger • Define document splitting characteristics for G/L accounts • Define foreign currencies valuation • Perform closing of foreign currency valuation and balance carry forward • Reclassify GR/IR clearing New General Ledger Disclosure in financial reporting has increased significantly in recent times. Up until version 4.7, companies attempting to meet disclosure requirements had to install different components to meet varied requirements and standards. Compliance with IAS/IFRS principles has heightened the need for parallel and segmented reporting. In attempt to meet legal and local (company code) accounting and reporting requirements, companies must maintain G/L accounts for two or more accounting areas for local and group reporting with two retained earnings (X & Y). 421
Chapter 19 ■ Customizing New General Ledger Accounting The drawback to these settings is that reconciliation between G/L accounts can be cumbersome. The new G/L eliminates many of the problems associated with various reporting (parallel accounting) to meet disclosure requirements by incorporating additional ledger(s). Therefore, a new general ledger can be seen as an attempt to provide a full picture of an accounting report that meets the standard accounting disclosure. It incorporates other aspects of business operations to ensure that comprehensive accounting information is always available. The benefits of the new general ledger include: • An extended data structure that allows customer fields to be added to the general ledger. • Real-time document splitting, which makes it possible to create balance sheets for various entities such as segments reporting in line with IAS (International Accounting Standards) and U.S. GAAP (Generally Accepted Accounting Principles). • The ability to run real-time reconciliation of management accounting with FI (reconciliation with controlling), making it possible to eliminate time-consuming reconciliations. • Management of multiple ledgers within the general ledger accounting. This is one of the ways to portray parallel accounting in SAP. • The flexibility to define one or more fiscal year variants using non-leading ledgers for various financial reporting needs. • Financial statements to be created using standard reporting functions. • A function that allows you to combine classic G/L accounting and special ledger objects. Other features of a new G/L include the leading ledger and the non-leading ledger. Only one leading ledger is allowed in a new general ledger, but you can define other non-leading ledgers that can be assigned to other objects, such as fiscal year variants/currencies. Leading Ledger Leading ledger is a form of consolidation that integrates other non-leading ledgers in all company codes. It is important to note that all company codes are automatically assigned the leading ledger. The leading ledger gets some of its control parameters from the company code. For example, it uses the fiscal year variant, posting period variant, and local currencies assigned to the company code. Non-Leading Ledger Non-leading ledgers are termed as parallel ledgers to the leading ledger to allow parallel reporting to meet other and local requirements. Once you have defined your non-leading ledger, you have to activate it by the company code. The system will automatically create a group ledger for the ledger you just created. 422
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■ Contents at a Glance ■Chapter
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■ Introduction Real-Time Three-Ti
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■ Introduction SAP FICO FICO stan
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■ Introduction Chapter 14 deals w
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Chapter 1 ■ Customizing Organizat
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Chapter 2 ■ Defining the Chart of
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Chapter 3 Document Control In this
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Chapter 3 ■ Document Control ■
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Chapter 3 ■ Document Control No:
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How to Display Number Intervals Cha
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Chapter 3 ■ Document Control that
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Chapter 3 ■ Document Control Figu
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Chapter 3 ■ Document Control Figu
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Chapter 4 ■ Defining Tolerance Gr
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Chapter 5 ■ Creating a General Le
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Chapter 6 Clearing Open Items In th
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Chapter 6 ■ Clearing Open Items P
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Chapter 6 ■ Clearing Open Items F
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Chapter 6 ■ Clearing Open Items A
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Checking the Company Code Settings
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Chapter 6 ■ Clearing Open Items D
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Chapter 6 ■ Clearing Open Items Y
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Chapter 7 Maintaining Currency Type
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Chapter 7 ■ Maintaining Currency
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Chapter 8 Defining Adjustment Accou
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Invoiced But Not Yet Delivered Chap
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Delivered But Not Yet Invoiced Chap
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Chapter 9 Defining the House Bank I
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Chapter 9 ■ Defining the House Ba
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Make Global Settings for Electronic
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Chapter 10 Defining Tax on Sales an
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Chapter 10 ■ Defining Tax on Sale
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Chapter 11 Customizing a Cash Journ
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Chapter 11 ■ Customizing a Cash J
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Set Up the Cash Journal Chapter 11
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Chapter 12 ■ Financial Statement
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Chapter 13 Integration of FI with O
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Material Management (MM) Chapter 13
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Chapter 13 ■ Integration of FI wi
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Chapter 14 ■ Defining FI Accounts
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Chapter 15 Defining the Dunning Pro
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Chapter 15 ■ Defining the Dunning
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Maintain Dunning Levels Chapter 15
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Maintain Minimum Amounts Chapter 15
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Determine Call-Up Functions Chapter
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Summary Chapter 15 ■ Defining the
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Chapter 16 ■ Customizing Special
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Chapter 17 End User - Accounting Do
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Chapter 17 ■ End User - Accountin
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Posting Residual Items Chapter 17
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Display Account Balances Chapter 17
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Execute Dunning Chapter 17 ■ End
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Summary Chapter 17 ■ End User - A
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Chapter 18 ■ Customizing the Cont
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Appendix A ■ Useful General Ledge
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Goods Rcvd/Invoice Rcvd Recon Not Y
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Appendix B ■ Some Useful Transact
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■ index Automatic postings, MM mo
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■ index Display actual cost line
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■ index G/L accounts (cont.) fiel
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■ index Posting rules (cont.) G/L
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SAP ERP Financial Accounting and Co
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This book is dedicated to God Almig
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■ Contents Opening and Closing Po
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■ Contents Prepare Automatic Post
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■ Contents Step 3: Assign FSV Nod
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■ Contents ■Chapter ■ 15: Def
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■ Contents Accounts Payable—Doc
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■ Contents Document Types 441 Def
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About the Author Andrew Okungbowa i
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