The screen layout for creating G/L accounts in the company code-specific area

The number interval from which the account number is selected when a G/L account is created.

FI- CO End User Training Module

2009

Gr e a v e s Co t t o n Li m i t e d Page 2

The account group determines:

The number interval from which the account number is selected when a G/L account is created.

The screen layout for creating G/L accounts in the company code-specific area

Parallel Accounting

General Ledger Accounting allows us to perform parallel accounting by managing several parallel ledgers for

different accounting principles.

Integration of Legal and Management Reporting

In General Ledger Accounting, we can perform internal management reporting in parallel with legal reporting. For

this purpose, the Profit center accounting functions are integrated with General Ledger Accounting.

Segment Reporting

General Ledger Accounting supports the segment reports required by the accounting principles IFRS(International

Financial Reporting Standards) and USGAAP(Generally Accepted Accounting Principles). For this purpose, General

Ledger Accounting contains the segment dimension.

Controlling area

The Controlling Area is an entity in Controlling. All the COtransactions in R/3 system would be entered with respect to the

controlling area. There will be one controlling area (1000 GreavesControlling Area) to which all the company codeswill

be assigned. All Company codes shall use same Chart of Accounts and Fiscal Year Variant.

Fiscal Year

Usually a period of twelve months for which a company regularly creates financial statements and checks inventories

The fiscal year may correspond exactly to the calendar year, but this is not obligatory.

In Greaves Cotton Limited And Premium Energy Transmission Limited we will be having to Fiscal Year

1. 0L- Fiscal Year From April to March. It will be leading Ledger .

2. SL- Fiscal Year From July to June. It will be Secondary Ledger .

We have to enter the documents in any one ledger and the entry will be posted in other ledger accordingly.

Posting Period and Counting