In FINSC_LEDGER, what if I don't assign Accounting Principle in company code/ledger?

[emma_emma_emma]

Hi Gurus,

Greetings!

We have two ledgers, 0L leading ledger and Z1 non-leading ledger. In FINSC_LEDGER, I found the company codes are not assigned to GAAPs, and I found there could be postings to 0L and Z1 or specify ledgers. Looks like there is no issue on this settings.

What could be the problem on this missing config?

Thank you!

Emma

[Gustavo_Vazquez]

Hi,

Foreign currency Valuation & Traslation will nott work.

Kind Regards

[emma_emma_emma]

Hi Gustavo,

Greetings!

Thanks for the reply! I know in theory I should assign accounting principles to these company codes. But just for the sake of discussion, yesterday I did check configs of currency valuation and translation.

As it looks, in periodic closing->valuation, the GAAPs are linked to ledger groups which are linked to ledgers, and then ledgers are linked to company codes. (see pic link.png.) So I think the GAAPs are specified already in valuation config. Maybe it won't affect the foreign currency v&t transactions?

Thanks a lot!

Emma

[hohoman]

Hello,

there are some posting Transactions like MRN9 "Balance Sheet valuation of stocks" or the Accrual Engine which are using this customizing to determine the correct Ledger. Especially those Transactions where it is possible that you'll make different postings by Gaap are using this customizing because you're not forced to use only one Ledger for every Gaap ... technically it is possible to use more ...

As Long as you're not using Transactions like MRN9, Accrual Engine a.s.o. you won't miss the customizing but I would always recommend to have a "complete" customizing.

Regards

Holger

[emma_emma_emma]

Hi Holger,

Thank you so much! We didn't use such transactions. These business scenarios are not going to be in future picture for sure.

So I am rest assured. Thank you!

Emma