New GL Configuration – In detail

 Why New GL????

The intention behind SAP New GL Configuration is to Combine the features of GL, Profit Center Accounting, Reconciliation Ledger, Special Purpose Ledger, BusinessArea, Cost of Sale Accounting.
Benefits like Segment Reporting, Cost of Sale Accounting, Management Reporting,Parallel Accounting, Balanced Books are possible with New GL.Activating General Ledger Accounting
To make the settings and use the functions in General Ledger Accounting, you have toactivate it. To do this, in Customizing choose
Financial Accounting→Financial Accounting Global Settings→Activate New General Ledger Accounting. (or T Code FAGL_ACTIVATION)
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