Convert Operative Valuation Area to meet the New GL requirements

Hi experts,
Up to now, in our customeru2019s ECC 6 system in the treasury module, there was only one operative valuation area (001) that it is linked to SAP/FI. This operative valuation area calculates results and creates accounting entries based on the Local GAAP which is the only existing ledger in SAP/FI. Our customer wants to activate the New GL functionality in SAP/FI and moreover to have as leading ledger the (New) IFRS Ledger through the migration approach. The other ledger (secondary) will be the local GAAP ledger.
What we already know is that the operative valuation area (001) must be always linked to the leading ledger. Thus the solution for this situation will be the conversion of all the flows from the existing operative valuation area (001) to the new valuation area (002)[new Local GAAP] and after the respective customizing to initialize the IFRS balances per financial instrument to the new operative valuation are (001) [new IAS GAAP].
Could you please be kind enough to know if there is a conversion tool which can deal with this situation or there are other alternative approaches to the issue described above?
Thank you for reading it,
G.P.

Thank you all for your replies.
Our problem is not on how to activate parallel valuation areas and to perform the respective customizing settings for parallel valuation and posting.
Up till now the operative valuation area 001 u2013 (Local GAAP), (we do not have second valuation area), is linked with the current leading ledger in SAP/FI, (there is only one General Ledger in SAP/FI based on Local GAAP). From now on and after the activation in SAP/FI the New GL functionality through the migration process, the Leading Ledger in SAP/FI will be the (New) IFRS Ledger.
The operative valuation area (001) in TRM must be always linked with the primary leading ledger of SAP/FI.
The problem is in the link between the operative valuation area (001) in TRM and the Leading Ledger in SAP/FI. We cannot continue to use as operative valuation area (001) the current one that makes posting to Local GAAP ledger and SAP/FI to have as primary ledger the new one that is based on IAS GAAP.
So the question is after the activation of the parallel valuation areas how to convert the flows from the up till now operative valuation area (001) into a secondary valuation area (002) and to use as operative valuation area (001) the new one based on IFRS.
Thank you again for your replies, we would appreciate any help.

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I assume the valuation area you are asking about is in transaction manager component only. Technically all valuation areas are same in the sense that they have the same functionality. But from a functional stand point, every valuation area is determined based on either different accounting principles or different valuation needs. For e.g. one valuation area can be for your local GAAP while one can be for IFRS. It all depends on the business requirements whether you need multiple valuation areas at all or you can use one itself.
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Lab79 wrote:
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Convert Operative Valuation Area to meet the New GL requirements

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