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Monday, September 1, 2008

How SAP Parallel Accounting Works?

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 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).

More tips to follow!Cheers,


SR said...

Good Explanation of doc posting in ledgers in new gl

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sanayamohit said...

Thanks for sharing this Information. Got to learn new things from your Blog on SAP HR.

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