What is split on a general ledger?

What is split on a general ledger?

Split means that there are more than one GL accounts associated with the transaction. For example, a cheque transaction for Rent expense account with GST associated may show as “Split” in the Bank account.

How do you classify GL accounts for document splitting?

Item Category – Item category categorizes the general ledger accounts for document splitting. In the configuration each GL account is assigned to item category. Just to name a few like 01000 – Balance Sheet Account, 02000 – Customer, 03000 – Vendor and so on.

How do you code a general ledger account?

The simplest way to assign general ledger codes is to start with a numeral, such as 100, assigning each subsequent credit or debit category a numerals that adds one more numeral to the number. In this instance, your first five codes would be 100, 101, 102, 103 and 104.

What is a GL breakdown?

In accounting, a general ledger is used to record all of a company’s transactions. Within a general ledger, transactional data is organized into assets, liabilities, revenues, expenses, and owner’s equity. After each sub-ledger has been closed out, the accountant prepares the trial balance.

What is document splitting in new GL?

Document Splitting in SAP is the new functionality introduced in SAP ECC 6.0 New GL to create segment financial statements. It is used to allocate one expense line item into two segments in New General Ledger.

What are the advantages of document splitting?

You can use document splitting to automatically split line items for selected dimensions (such as receivable lines by profit center) or to effect a zero balance setting in the document for selected dimensions. In document splitting, the system creates additional clearing lines.

What are the steps involved in document splitting in new GL accounting?

Document Splitting Integration First, to split up line items for selected dimensions (such as receivables lines by profit center). Second, to effect a zero balance setting in the document for selected dimensions (such as segment). Thus, it generates additional clearing lines in the document.

What is document Splitting Characteristics for General Ledger?

The document splitting characteristics belong to document splitting in new General Ledger Accounting. You determine the data structure of your ledger and thereby the selection of a document splitting characteristic in one of the following ways: You assign a scenario to the ledger.

What is GL code examples?

GENERAL LEDGER CODE

• 0000 – BUDGETARY & FULL TIME EQUIVALENT (FTE)
• 1000 – ASSETS OTHER THAN CAPITAL.
• 1100 – CASH.
• 1200 – INVESTMENTS.
• 1300 – SHORT-TERM RECEIVABLES.
• 1310 and 1320 – SHORT-TERM RECEIVABLES.
• 1340 – ALLOWANCE FOR UNCOLLECTIBLE SHORT-TERM RECEIVABLES.

What is a GL code example?

Your GL Code has always followed the same format, for example, (xxx-xxxx-xxx). It is easy to add an additional section to indicate more information.

What is ledger example?

A ledger account contains a record of business transactions. It is a separate record within the general ledger that is assigned to a specific asset, liability, equity item, revenue type, or expense type. Examples of ledger accounts are: Accounts receivable.

Where to find document splitting in SAP new GL?

As per the New GL Profit Center Accounting (PCA), there are two entry-views. The Entry view and The General Ledger view. You can find the document splitting under the General Ledger view. Material purchased for two different profit centers under one invoice.

Is the GL code always the same format?

Your GL Code has always followed the same format, for example, (xxx-xxxx-xxx). It is easy to add an additional section to indicate more information. You may have to make system specific tweaks, but changing an existing format from (3 numbers – 4 numbers – 3 numbers) to add one more section of numbers on the end is as simple as just doing it.

What does a GL code on a ledger mean?

First of All – What is a GL Code? A General Ledger Code (GL Code) is a string of alphanumeric characters assigned to each financial entry in an organization’s ledger. A GL Code can indicate basic information such as a debit or credit by location or provide highly specific details about an entry through a GL String.

How is document splitting calculated in New general ledger?

New General Ledger Accounting and document splitting are active. When document splitting is run, the total of the amounts of the base row is very small. For calculating the split amounts, the system uses the total of the amounts of the base rows as a divisor.