New GL and S/4HANA: Introduction to the "new world"
The interaction of New General Ledger and Universal Journal under S/4HANA
The new general ledger can already be optionally introduced in ECC, under S/4HANA it is then mandatory, because the classic variant is no longer supported.
With the new data model, a single data pool is created under S/4HANA based on the Universal Journal, which unites the accounting profit and loss account, asset accounting and the Material Ledger with accounting. The fully integrated
dimensionality makes the Universal Journal a single source of truth. The new general ledger thus takes on an even more important role and has been enhanced accordingly with new features.
What does the new general ledger in S/4HANA change?
What improvements will be added?
In addition to the advantages that the new general ledger already offers in ECC, S/4HANA also includes other improvements, such as:
- Simplified data models by eliminating the summary tables
- Harmonization of currency settings
- Parallel valuation, additional transfer prices in S/4HANA
- Valuation areas (FX, inventory)
How does the conversion to the New GL take place?
Since version 1709, the conversion can be done automatically with the S/4 conversion. However, it is necessary to evaluate the general ledger functionalities before conversion:
- Is the classic general ledger in use or already the New GL?
- How many accounting standards must be considered - keyword Multi-GAAP
- Is the ledger or account solution used?
- Which currency settings are actively used or required?
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