# SAP ERP/General Ledger Accounting
## Purpose

The central task of G/L accounting is to provide a comprehensive picture of external accounting and accounts. Recording all business transactions (primary postings as well as settlements from internal accounting) in a software system that is fully integrated with all the other operational areas of a company ensures that the accounting data is always complete and accurate. Beyond fulfilling the legal requirements, General Ledger Accounting also fulfills other requirements for modern accounting:
Parallel Accounting General Ledger Accounting allows you to perform parallel accounting by managing several parallel ledgers for different accounting principles.
Integration of Legal and Management Reporting In General Ledger Accounting, you can perform internal management reporting in parallel with legal reporting. For this purpose, the Profit Center Accounting functions are integrated with General Ledger Accounting. Furthermore, you can generate financial statements for any dimension (such as profit center).
Segment Reporting General Ledger Accounting supports the segment reports required by the accounting principles IFRS (International Financial Reporting Standards) and US GAAP (Generally Accepted Accounting Principles). For this purpose, General Ledger Accounting contains the Segment dimension.
Cost of Sales Accounting You can perform cost of sales accounting in General Ledger Accounting. For this purpose, General Ledger Accounting contains the Functional Area dimension.

## Integration

General Ledger Accounting is integrated with all application components of the SAP System that generate posting data of relevance to General Ledger Accounting:
* Asset Accounting (FI-AA)
* FI Accounts Receivable and Accounts Payable
* Controlling (CO)
* Materials Management (MM)
* Human Capital Management (HCM)
* Treasury and Risk Management (TRM)
* Travel Management (FI-TV)
* Public Sector Management - Funds Management Government (PSM-FM)
When you activate the business function set Public Sector (EA-PS) and the global functions Funds Management (PSM-FM), you obtain a separate set of tables containing the Public Sector account assignments, such as fund and grant.

## Features

General Ledger Accounting comprises the following functions for entering and evaluating posting data:
* Choice between group level or company level
* Automatic and simultaneous posting of all subledger items in the appropriate general ledger accounts (reconciliation accounts)
* Simultaneous updating of the parallel general ledgers and of the cost accounting areas
* Real-time evaluation of and reporting on current posting data, in the form of account displays, financial statements with different balance sheet versions, and additional analyses.
In this way, General Ledger Accounting automatically serves as a complete record of all business transactions. It is the central and up-to-date component for reporting. Individual transactions can be checked at any time in real time by displaying the original documents, line items, and monthly debits and credits at various levels such as:
* Account information
* Journals
* Totals/transaction figures
* Balance sheet/profit and loss evaluations