Hi Somu,
the central task of G/L accounting is to provide a comprehensive picture of external accounting and accounts. Recording all business transactions (primary postings as well as settlements from internal accounting) in a software system that is fully integrated with all the other operational areas of a company ensures that the accounting data is always complete and accurate.
Beyond fulfilling the legal requirements, General Ledger Accounting also fulfills other requirements for modern accounting:
• Parallel Accounting
General Ledger Accounting allows you to perform parallel accounting by managing
several parallel ledgers for different accounting principles.
• Integration of Legal and Management Reporting
In General Ledger Accounting, you can perform internal management reporting in
parallel with legal reporting. For this purpose, the Profit Center Accounting functions
are integrated with General Ledger Accounting. Furthermore, you can generate
financial statements for any dimension (such as profit center).
• Segment Reporting
General Ledger Accounting supports the segment reports required by the accounting
principles IFRS (International Financial Reporting Standards) and US GAAP (Generally
Accepted Accounting Principles). For this purpose, General Ledger Accounting
contains the Segment dimension.
• Cost of Sales Accounting
You can perform cost of sales accounting in General Ledger Accounting. For this
purpose, General Ledger Accounting contains the Functional Area dimension.
If this is useful then assign me points.
Rams.N
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