A general ledger in SAP Business One that is used to display the values required to create Annual financial statements can be used. It records values at company code level.
Allows the user to generate a report summarising all posted journal transactions, including those created manually and automatically. The report can be generated using a variety of selection criteria.
In the general ledger in SAP Business One, a distinction is made between Balance sheet accounts and income statement accounts. The categorisation begins with the balance sheet accounts, which include three core categories in particular: Assets, Liabilities and Equity. These categories typically include balance sheet accounts such as the account for value added tax and the account for liabilities.
- These accounts are recognised on an ongoing basis and their balances are carried forward from one financial year to the next.
- The balance sheet accounts reflect the financial value of a company, including its assets, liabilities and equity.
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