Accounting and Financial Close - Group Ledger IFRS (1GA)

Accounting and Financial Close - Group Ledger IFRS (1GA)

General Ledger Accounting provides a comprehensive overview of external accounting and accounts and supports parallel accounting.

General Ledger Accounting serves as a complete record of all business transactions, providing a centralized, up-to-date reference for the rendering of accounts. Actual individual transactions can be checked at any time in real-time processing by displaying the original documents, line items, and transaction figures at various levels to support parallel accounting. These transactions include:

Manage Journal Entries, Post with Clearing for Ledger Group, Run Automatic Clearing Specific to Ledger Groups, Trial Balance Comparison, and Financial Statement Ledger Comparison.

Key Process Steps Covered

  • Manage journal entries
  • Maintain accounts: Automatic and manual clearing to ledger group
  • Perform day-end, month-end, and year-end closing

Benefits

  • Record all business transactions to ensure complete and accurate accounting data in parallel accounting

Where is Accounting and Financial Close - Group Ledger IFRS(1GA) being used?

This Scope item is used in the following way:

  • As a support function of Accounting and Financial Close within Finance Scope Item Group

Process flow of Accounting and Financial Close - Group Ledger IFRS (1GA)

Find below the process flow of the scope item Accounting and Financial Close - Group Ledger IFRS as it is defined for release s4h-2021.


Download Process Flow of Best Practice scenario Accounting and Financial Close - Group Ledger IFRS (1GA) - S/4HANA OP
Ref: Finance of SAP S4H-2021
Best Practices related to S/4HANA*1) Yearly Updates are released per September of each year
*2) The Quarterly updates are released per Februari, May, August and November
Details of future releases can be found in the SAP Roadmap section of each product. Go to SAP Roadmap Product Finder.
Knowledge Center Scheer Nederland | The Process Experts Visit also the SAP Cloud ERP knowledge center of Scheer Netherlands. The following topics are covered:
Place comment