FI GL

A General ledger summarizes all of a company's financial transactions including sales and income, asset management, retained earnings, inventory supplies and expenditures, payroll, including taxes and benefits and vendor expenses.

General Ledger is fully integrated with the other SAP Modules. It is within the

General Ledger that all accounting postings are recorded. These postings
 are displayed in real-time providing up-to-date visibility of the financial accounts

G/L Accounts are blocked at two levels

• Chart of Accounts level

• Company Code level

General Ledger Overview

General Ledger (FI-GL) is defined as the sub-module in which all of the financial accounting data for the legal entity is recorded either manually or automatically through integrated processes.

• Integrated with other application modules and FI sub-modules
• Financial Data Entry
• User-defined Balance Sheet / Profit and Loss Statement versions
• Multiple Currencies
• External Reporting
• Includes General Ledger and Profit Center Accounting

General Ledger Functionality

• FI-GL General Ledger
• Master records management: GL accounts 
• Document entry: direct posting, recurring posting, reverse posting, automatic posting, drill-down capability
• Periodic processing: closing, interest calculation, automatic clearing, foreign currency valuation, Tax management, archiving
• Reporting

Benefits of SAP General Ledger Accounting

• Provides a comprehensive picture for external accounting and accounts
• Automatic and simultaneous posting of all sub-ledger items in the appropriate general ledger accounts (reconciliation accounts)
• Simultaneous updating of general ledger and cost accounting areas
• Real-time evaluation of and reporting on current accounting data
• Integrated with all the other operational areas of a company and ensures that the accounting data is always complete and accurate
• Actual individual transactions can be checked at any time in real-time processing by displaying the original documents, line items, and transaction figures at various levels like Account Information, Journals, Totals/Transactional figures and Balance Sheet Evaluations, etc.