What is ledger type in SAP FI-GL-GL - Basic Functions?

SAP Term: ledger type

• Component: FI-GL-GL

• Component Name: Basic Functions

• Description: Classification criterion used to distinguish between daily, monthly, and average ledgers.

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• Key Concepts: 
  A ledger type is a classification of ledgers in the SAP system. Ledger types are used to group together similar ledgers and to assign them to a specific accounting principle. Ledger types are used to define the accounting principles that should be used for a particular ledger. 
  
  How to use it: 
  In the SAP system, ledger types are used to define the accounting principles that should be used for a particular ledger. Ledger types can be assigned to a ledger when it is created, or they can be changed later. The ledger type determines which accounting principles will be used for the ledger, such as whether it will use accrual or cash basis accounting. 
  
  Tips & Tricks: 
  When creating a new ledger, it is important to select the correct ledger type. This will ensure that the correct accounting principles are applied to the ledger. It is also important to remember that the ledger type can be changed later if needed. 
  
  Related Information: 
  The FI-GL-GL Basic Functions component of SAP contains all of the functions related to ledgers and ledger types. This includes creating and managing ledgers, assigning ledger types, and managing accounting principles.