What is local ledger in SAP FI-SL - Special Purpose Ledger?

SAP Term: local ledger

• Component: FI-SL

• Component Name: Special Purpose Ledger

• Description: A ledger used to store data entered for company codes.

Smart SAP Assistant

• Key Concepts: 
  Local ledger is a component of the SAP Financial Accounting (FI-SL) Special Purpose Ledger. It is a ledger that is used to store and manage financial data for a specific company or organization. The local ledger is used to track the financial transactions of the company, such as sales, purchases, and payments. It also stores information about the company's assets, liabilities, and equity. 
  
  How to use it: 
  The local ledger can be used to track the financial transactions of a company. It can be used to record sales, purchases, payments, and other financial transactions. The local ledger can also be used to store information about the company's assets, liabilities, and equity. 
  
  Tips & Tricks: 
  When using the local ledger, it is important to ensure that all transactions are accurately recorded and that all information is up-to-date. It is also important to ensure that all transactions are properly categorized and that all information is properly stored in the local ledger. 
  
  Related Information: 
  The local ledger is part of the SAP Financial Accounting (FI-SL) Special Purpose Ledger. Other components of this system include the global ledger, which stores financial data for multiple companies or organizations; the consolidation ledger, which consolidates financial data from multiple companies or organizations; and the reporting ledger, which provides reports on financial data from multiple companies or organizations.