Answer / aruna

Hi ,

In our Yesterday's FB conversation You asked me about New GL .Now, Please let me explain you

New GL is important in the below scenarios .

1. we can prepare local company report/financial statements (eg. currency INR, Fiscal year k4 i.e jan to dec)

2. we can prepare group company report/financial statements (eg. currency eur, Fiscal year V3 i.e Apr to Mar)

3. we can prepare Local tax report/financial statements (eg. currency INR, Fiscal year V3 i.e Apr to Mar)

Advantages are

1.we have to maintain one chart of accounts (eg. 6000)

2.we can maintain Two fiscal years

3.we can maintain more than one currency (eg. EUR,INR)

Now a client can prepare 3 reports for one fiscal year with respective Exiting GL accounts.

Disadvantages in classic Gl

In classic GL Client can prepare only one report i..e legal local report .
if client wants to get more than one financial statement again need to create other gl accounts as same as existing gls (eg. TAx report )
It is duplication of data & will be difficult in reconciliation a/c types,open item accounts etc...

New GL has new concepts like

Document splitting
Ledger groups
parallel curriencies
expenses/revenues allocated among b'ness area,segment,profit center,cost of sales etc.... with one time posting of JV.

here we should mention clearly under which category Financial Statements need to prepare eg. IAS,IFRS,GAAP

Configuration of NEW GL settings

1. first we need to activate NEW Gl

2. Balances should be Zero,

3.Classic Gl Data can migrate to NEW GL

4.once we migrated Data to new gl , classic gl will be deactivate

5. but we should be careful in customer and vendor data as they are reconciliation account types.

Regards,
Aruna .

Answer / satish

Main difference is 4.7 to ECC6 are below furnished

1) Parlal ladger
2) Document Splitting
3) Segment reporting
4) online FICO reconcilation

Kindly give me suggestion about Dunning for Vendors how can do the Vendor dunning, kindly provide the one by one required steps… i have done all these steps 1. Define Dunning area 2. Define Dunning Procedure 3. Assign Dunning procedure in Vendor Moster 4. Purchase Meterial from Vender Dunning with T.code f-150 but i have a doubt i will post VENDOR ADVANCEF-48,VENDOR PURCHASE F-43 ? pls let me know

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