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Overview of New General Ledger:
The general ledger in SAP R/3 is highly assorted. R/3 customers have to implement several SAP components in order to fulfill accounting requirements. To ease this problem, SAP has created a new, flexible general ledger solution in SAP ERP. New G/L merges the classic general ledger with profit center accounting, special ledger.
New general ledger accounting in mySAP ERP has the following features:
Overview of Parallel Accounting:
You can portray parallel accounting in your SAP System. This enables you to perform valuations and closing preparations for a company code according to the accounting principles of the group as well as other accounting principles, such as local accounting principles.
Overview of Parallel Tax on Sales / Purchases:
Input and output tax is calculated on revenue or expense items (base amount). The tax amounts are posted to separate tax accounts and refunded by the tax office (input tax) or paid to the tax office (output tax). The tax percentage rates vary from country to country and are determined when you define the tax codes.
Overview of Document Splitting:
Document splitting allows you to display documents using a differentiated representation. In the representation, line items are split according to selected dimensions. So you can draw up financial statements for the selected dimensions at any time.
Overview of Cross - Company Code Transactions:
Several company codes are involved in a cross-company code transaction. In a cross-company code transaction, the system posts a separate document with its own document number in each of the company codes. Individual documents are linked by a common cross-company code number. The system generates line items automatically (receivables and payables arising between company codes) in order to balance the debits and credits in each document. You may use only one company code for offsetting entries. That is to say, regardless of the number of company codes involved, you must make one of the following entries:
Asset Accounting: The SAP Asset Accounting (FI-AA) component is used for managing and supervising fixed assets with the SAP R/3 System. In SAP R/3 Financial Accounting, it serves as a subsidiary ledger to the FI General Ledger, providing detailed information on transactions involving fixed assets.
Traditional asset accounting encompasses the entire lifetime of the asset from purchase order or the initial acquisition (possibly managed as an asset under construction) through its retirement. The system calculates, to a large extent automatically, the values for depreciation, interest, insurance and other purposes between these two points in time, and places this information at your disposal in varied form using the Information System.
Set up Business Partners: Customer and Vendor
The cash journal is used as a subsidiary ledger in Bank Accounting to manage cash transactions within the organization. It can be used independently of other posting transactions. The opening and closing balances, as well as the cash receipts and expenditures, are automatically recorded and displayed. Multiple cash journals can exist within each company code.
FI Integration with MM & SD
Cost Center Accounting: You use Cost Center Accounting for controlling purposes within your organization. The costs incurred by your organization should be transparent. This enables you to check the profitability of individual functional areas and provide decision-making data for management. This requires that all costs be assigned according to their source. However, source-related assignment is especially difficult for overhead costs. Cost Center Accounting lets you analyze the overhead costs according to where they were incurred within the organization.
Profit Center Accounting: Profit Center Accounting (EC-PCA) lets you determine profits and losses by profit center using either period accounting or the cost-of-sales approach.
It also lets you analyze fixed capital and so-called "statistical key figures" (number of employees, square meters, and so on) by profit center. You can run your profit and loss statement and in some cases balanace sheet at the profit center level.
A profit center is a management-oriented organizational unit used for internal controlling purposes. Dividing your company up into profit centers allows you to analyze areas of responsibility and to delegate responsibility to decentralized units, thus treating them as "companies within the company".
Internal Order: An instrument used to monitor costs and, in some instances, the revenues of an organization.
Internal orders can be used for the following purposes:
Internal orders are divided into the following categories:
COPA -> Profitability Analysis
Profitability Analysis (CO-PA) enables you to evaluate market segments, which can be classified according to products, customers, orders or any combination of these, or strategic business units, such as sales organizations or business areas, with respect to your company's profit or contribution margin.
The aim of the system is to provide your sales, marketing, product management and corporate planning departments with information to support internal accounting and decision-making.
Two forms of Profitability Analysis are supported: costing-based and account-based.