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Former Member

Difference between GL and New GL A/C

Posted on Dec 03, 2007 at 09:15 AM 8 Views

Dear All,

any body can give Idea about GL and New GL Accounts, If Possible Please send me Document to my Mail ID, This is veryUrgent.

Mail ID - sudheer4fico@gmail.com

Thanks and Regards

Sudheer

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    author's profile photo Former Member
    Former Member
    Posted on Dec 03, 2007 at 11:48 AM
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    Hi sudheer,

    there is lot of difference between GL and New GL. I hope you know about GL accounting.

    New GL account:

    1. Document splitting

    2. Segment wise report

    3. Reconcilation

    4.Parllal Accounting

    IF usefull assign points

    venu

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 03, 2007 at 11:19 AM
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    GL is the standard GL.

    In certain clients maintain Books/GL in a calender year and require similar books for Tax accounting purpose with a different fiscal year say april to mar. Hence if you create an additional GL with different fiscal year all the entries posted in standard GL will be automatically posted in the new GL.

    You can also direct entries in the new additional GL, But the same will not be reflected in the Standard GL. This helps in posting adjustment entries required for Tax reporting for exam Tax depreciation etc ... in the additional GL without disturbing the standard.

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