Advantages of New G/L activation

Hi Experts,
If i enable new G/L account what all benefit can get it ?
regards
Sanju M S
Moderator: Please, avoid asking basic questions

Hi:
Strictly speaking NEW GL accounting leads to many advantages over classic GL in the following respects.
1...Total tables FAGLFLEXT is now being used instead of GLT0 & GLPCT . FAGLFLEXT is fastest for reporting and custom fields can be added to it..
2...Non leading ledgers has been provided to comply with parallel Accounting concept...IFRS ans local requirement can both be meet non using non leading and leading ledgers respectively...
3...Document splitting functionality has been provided.
4...Now the reconciliation between FICO happens on real time bass instead of summary posting in classic GL at the end of period.
5...Some new and advanced drill down reporting features have been added in new GL accounting
5...Fast period end closing is possible now..for example depreciation posting AFAB is online now..earlier it used to be done via batch session..
I hope this piece of information will be of help fr you...
Regards

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