Configuring general ledger accounting :

Before you can begin working with the elements of General Ledger Accounting, you have to make the general settings for Accounting. You additionally need to arrange the records you use in General Ledger Accounting. Expanding on this information, you set up the combination with Controlling (CO) and, where appropriate, your parallel bookkeeping.
Process Flow

  • Make your organization code and at least one controlling regions.
  • Make the general settings for the monetary year, the posting time frames, and the monetary forms. (You make the setting for the monetary year and the posting time frames in Customizing for Financial Accounting (New) under Start of the route way Financial Accounting Global Settings (New) Next route step Ledgers Next route step Fiscal Year and Posting Periods End of the route way.)
  • Design your ledgers.
  • Define Integration with Controlling.
  • Set up parallel accounting.

Configuring new asset accounting :

If you now want to implement new Asset Accounting, then you have to perform the Activate Asset Accounting (New)
In the Activate New Asset Accounting Customizing activity, set the Active indicator and save your setting. Customizing activity:  Asset Accounting (New) → Migration: Asset Accounting (New) →  Activate New Asset Accounting. Now you can post with new Asset Accounting. You can unlock your users and allow posting in the system.
Account-based controlling profitability analysis customization :
Account-based profitability analysis is an universal journal entry. Cost and revenue are current and permanently reconciled with the income statement. This solution uses cost and revenue elements and stores costs and revenues in G/L accounts. There are two types of account-based costing approaches:

  • Simplified profitability analysis
  • Costing-based profitability analysis

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