The central task of G/L accounting is to provide a comprehensive persona 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 otherwise operational areas of a company ensures that the accounting data is evermore complete and accurate.
Beyond fulfilling the judicial requirements, universal account book report also fulfills other requirements for modern accounting:
?       Parallel Accounting
prevalent leger Accounting allows you to come parallel accounting by managing several parallel ledgers for different accounting principles.
?       Integration of sub judice and Management account
In General Ledger Accounting, you can coiffure 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 mark (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.
3b. Describe THOUGHTFULLYÂ how you learned to understand the SAP General Ledger Accounting Management system. Give two (2) examples from your personal have intercourse of each learning process. (At least on paragraph)
The special G/L transactions which are available in SAP system are as follows:
* Down defrayals and down payment requests
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