Why Use New General Ledger
The following table gives the business requirements at the backend which prompts the finance department of the comapny to go for NEW GL implementation.
|S.N||Business Requirements||New GL Functionality|
|1||Reporting as per different GAAP||Concept of multile ledgers- leading and non leading ledgers|
|2||Unified Mangement & legal reporting||Profit Centre integrated with the New ledger|
|3||Requirement of segmental reporting(in line with US GAAP)||Segment can be defined as an enterprise element|
|4||Financial statement below company code level||Document spilt functionality|
|5||Reporting as per cost of sales accounting||Functional area included|
Each one of these functionality is unique and elaborate and has the features ingrained to meet the different requirements emerging for the external reporting purpose.