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 on the basis of the Universal Journal, which unites accounting-based profitability analysis, 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 takes on an even more important role as a result and new features have been added accordingly.
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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