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December 24, 2009

Fast Close – Business Challenges

Fast close increases trust and provides competitive advantage. I discussed the business drivers behind fast close in my previous post “Fast Close – Business Drivers”. If fast close is so useful then why it isn’t the norm rather than exception? The answer to this question is in understanding the various business challenges that hinder the close process.

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August 31, 2009

Comparative Analysis between New GL and Classic GL

New GL and Classic GL are two ways to implement General Ledger functionality in SAP ECC5 and ECC6. New GL provides lot of benefits over classic GL. The New GL benefits

-          Provide an extension to the existing functionality in classic GL, or

-          Provide new functionality compared to classic GL, or

-          Provide a technologically superior way to perform a functionality in Classic GL

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August 5, 2009

Is it time to move to New GL?

SAP introduced New General Ledger functionality with the Enterprise release (ECC 5). The SAP FI/CO components for Classic General Ledger, COS Ledger, Reconciliation Ledger, Special Purpose Ledger and Profit Center Accounting have been merged to provide an integrated solution known as New GL. New GL provides document splitting functionality that enables generation of financial statements for Segments (As per IAS 14 Accounting Standard, segment reporting is a legal reporting requirement for specific business or geographical segments). New GL supports multiple ledgers, hence, reducing the need to rely on Special Purpose Ledgers for parallel valuation. New GL facilitates real time FI-CO Integration resulting in real-time legal and management reporting. An integrated solution like New GL ensures better SOX compliance and Fast Period End Close resulting in reduced TCO.

 

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