New Gl Concept in Sap

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What is New gl in sap:New gl is very high mode when compare to classic gl.

New gl purpose: New gl purpose is to record the business transaction in external posting internal posting level(FI,CO),To Generate the finical reports

Advantages:

New gl has many advantages when compare with classic gl

1.New gl have the fields more table level fields when compare with classic gl

2.We can generate the finical statements at individual level (Like a Customer ,vendor)

3.We can pull the gl balances each vendor wise and customer Wise to add the fields to the tables.

4.We can split the documents individually ,PROFIT CENTER WISE,SEGMENT WISE,

5.if the new gl activated then it's not required to perform the FI-CO reconciliations

Concepts:

Multiple Ledgers

Paralle  currency

Document spliting

Fi-co Recancilations

Segement Reporting.

For more about this please New gl concept