What is parallel ledger?
Parallel accounting enables valuation and closing transactions for a company code based on group accounting principles as well as additional accounting principles such as local accounting principles. To implement parallel accounting in your system, for example, you can use parallel ledgers.
What are the three ledgers?
The three types of ledgers are the general, debtors, and creditors. The general ledger accumulates information from journals. Each month all journals are totaled and posted to the General Ledger.
What are the two types of accounts on the ledger?
Types of ledger accounts Liability accounts: lines of credit, accounts payable, debt, and notes payable. Revenue accounts. Expense accounts. Equity accounts.
What is the use of parallel accounting in SAP?
Purpose. You can portray parallel accounting in your SAP system. This enables you to perform valuations and closing operations for a company code according to the accounting principles of the group as well as other accounting principles, such as local accounting principles.
What is a ledger Blockchain?
Cryptocurrency Transactions on the Public Ledger A blockchain is a form of public ledger, which is a series (or chain) of blocks on which transaction details are recorded after suitable authentication and verification by the designated network participants.
What is parallel valuation in SAP?
You represent different valuations on different accounts within the same general ledger. This means that you have to create the same set of accounts again for each parallel valuation. Separate documents are posted for each accounting principle or valuation.
What is parallel accounting in general ledger?
In General Ledger Accounting, you can perform parallel accounting by running several parallel ledgers (general ledgers) for different accounting principles. During posting, you can post data to all ledgers, to a specified or to a single ledger This feature helps to maintain different sets of ledgers in one Company Code.
Which Ledger is not allowed in the area for parallel valuation?
The ledger group of the area for parallel valuation is not allowed to contain the leading ledger. Asset values in area 30 will be posted to Non-Leading ledger X1, as shown in the below screen:
How do I perform parallel accounting in SAP financials?
This feature is available in New G/L Accounting in SAP Financials. In General Ledger Accounting, you can perform parallel accounting by running several parallel ledgers (general ledgers) for different accounting principles. During posting, you can post data to all ledgers, to a specified or to a single ledger
How to configure ledledger group ‘X1’ for parallel valuation?
Ledger group ‘X1’ is not allowed to contain the leading ledger when we specify X1 as target ledger group in depreciation area. To enable this setting, we have to select 1 in the field “Different Depreciation Area” in depreciation area 30 as shown in the above picture. 2. Setup areas for parallel valuation