Accounting and Financial Close - Group Ledger US GAAP (2VA)

The central task of General Ledger accounting is to provide a comprehensive picture of external accounting and accounts, and to support 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

Additional Information

• This scope item is excluded from the default activation

All starter, demo, and trial systems are set up by default with group ledger IFRS. This scope item is therefore excluded. Customers can decide to use this scope items in the Q- and P-systems based on the selected scope bundle.

Where is Accounting and Financial Close - Group Ledger US GAAP(2VA) 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 US GAAP (2VA)

• Best Practices of SAP S/4HANA On Premise *1
• Best Practices of SAP S/4HANA Cloud *2
• Best Practices of SAP Analytics Cloud *2
• Best Practices of Robotics Process Automation(RPA) with SAP Leonardo *2

• RISE with SAP
• SAP S/4HANA Cloud
• SAP on Azure
• Business Process Management