New GL provides significant enhancements to SAP’s (classic) general ledger package.

The common general ledger module collects data to allow a company (legal entity) to meet statutory reporting obligations, yielding balance sheet and profit and loss information for the single entity. However, many companies require more complex financial data to enable them to manage effectively. New GL allows you to manage financial data on an array of profit centres and segments, then integrates them for overall company reporting. The integration facility is critical in reducing the work involved in reconciling a collection of profit centres against overall company results.

New GL combines management accounting functions with financial accounting requirements and the benefits include:

• New GL enables you to create a holistic picture of your organisation’s financial health.  Infornation can be sourced from a single module providing better control over your profit centres or segments
• Parallel accounting methods
• Fewer reconciliation issues, because all reports are drawn from the same body of data
• Balance sheet and profit and loss reporting for levels below company code level
• Faster end of month closures, reducing the total cost of ownership
• Multiple dimensions in the general ledger
• Online document splitting.