New G/L

New GL has now an added dimension of Profit center and segment accounting in it.  New GL functionality is very useful for companies which have multiple parallel reporting such as local reporting, Parent reporting and tax reporting. Earlier all this was only possible by creating separate GL codes and different retained earning  accounts. This had reconciliation issues between the various reporting. With New GL structure now, no separate GL codes are required.  

The data for one accounting principle is stored in the general ledger that  is known as the Leading ledger.

Various  functions  in  New GL:

v New Tables

v Ledger concept

v Document Splitting

v Improved Integration 

v Segment Reporting

v Parallel Ledgers

v Migration to the New Ledger

v Fast close

New Table

Three new tables in the new general ledger handle totals, store general-ledger and specific line items, and calculate valuations for year-end closings in parallel ledgers

A New Totals Table

In addition to using the new totals table in the standard software, we can define our own table, using a new table (FAGLFLEXT) as a template. We might need to define our own table if we have a very large volume of data or very different characteristic values. (For more information, see SAP Note 820495.) Before creating new totals tables, we recommend that you check to see if using the standard table would be sufficient. This step is important because the report writer software or drill-down tools do not recognize new totals tables that you create. The new totals table contains additional standard fields for storing totals. With the standard table, you can easily activate support for many scenarios by customizing the software.

The table thus supports such activities as:

v Segment reporting

v Profit-center updating

v Cost-of-sales accounting

v Cost-center updating

v Preparation for consolidation

v Business-area updating

Comparison Classic / New GL Totals Table: