New general ledger and the integration of accounting data with controlling

In the classic general ledger, it was not easy to comply with different accounting principles, as it was necessary to work with different accounts. Here, the new ledger solution, which will be introduced with the new general ledger (New G/L), offers a significant advantage, since one and the same account can be posted to in different accounting principles or ledgers. Similarly, it is possible for ledgers to be synchronized with depreciation areas in Asset Accounting, allowing special valuations (such as 8-year depreciation of passenger cars) to be automatically posted through to the appropriate (tax) ledger. SAP S/4HANA offers the possibility for controlling scenarios to be mapped in enhancement ledgers, such as updating statistical conditions from sales orders or predicting future developments into a predictive ledger.

Source: SAP

The central advantage can be understood as the access to a uniform data stock, which unites financial accounting with controlling and minimizes the need for periodic reconciliation work. This offers the great advantage of being able to act quickly in a dynamic environment, especially with regard to uniform reporting in real time. Extensive automation of reconciliation tasks in the intercompany area and automation of period-end closing activities leave you more time for value-adding tasks. Machine learning components can further increase efficiency by enabling your system to react automatically to changes in external factors.