What is General Ledger Accounting (new) in SAP FI-GL - General Ledger Accounting?

SAP Term: General Ledger Accounting (new)

• Component: FI-GL

• Component Name: General Ledger Accounting

• Description: Complete representation of external accounting All business transactions primary postings, settlements from internal accounting are recorded in an integrated business software system. This guarantees that the accounting information is complete and reconciled at all times. Other functions provided by New : Parallel accounting Integration of legal and management reporting Segment reporting Cost of sales accounting

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• Key Concepts: 
  General Ledger Accounting (new) is a component of the SAP Financial Accounting (FI) module. It is used to record and manage financial transactions within an organization. It is the central repository for all financial data and provides a comprehensive overview of the company's financial position. It also allows for the creation of financial statements, such as balance sheets and income statements. 
  
  How to use it: 
  General Ledger Accounting (new) can be used to record and manage all financial transactions within an organization. It can be used to create and maintain accounts, post journal entries, and generate financial reports. It also allows for the creation of custom reports and analysis of financial data. 
  
  Tips & Tricks: 
  When using General Ledger Accounting (new), it is important to ensure that all transactions are accurately recorded and that all accounts are properly maintained. It is also important to ensure that all reports are accurate and up-to-date. Additionally, it is important to regularly review the data in the general ledger to ensure accuracy and completeness. 
  
  Related Information: 
  General Ledger Accounting (new) is closely related to other components of the SAP Financial Accounting (FI) module, such as Accounts Payable, Accounts Receivable, Asset Accounting, and Cost Accounting. Additionally, it is closely related to other modules, such as Controlling (CO), Human Resources (HR), and Materials Management (MM).