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Multiple ledgers

Former Member
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Hi Gurus,

why there is a need for multiple ledgers can anyone explain

thanx

Ravi

Accepted Solutions (0)

Answers (1)

Answers (1)

Former Member
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Ravi,

A ledger is a section of a database table. A ledger only contains those dimensions of the table that the ledger is based on and that are required for reporting.Multiple ledgers are required for the purpose of reporting along multiple dimensions.

In General Ledger Accounting, you can use several ledgers in parallel. This allows you to produce financial statements according to different accounting principles like US GAPP, IFRS, IAS etc

Hope this makes things clear. let me know if you need anything else.

Rgds

Manish

Former Member
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Hi Manish,

As per your reply different ledgers are used for different financial reporting purpose.

I am confused that we can create different financial statement with one leading leader or is there any other requirement to create different leaders.

One more question that i have is that can we assign same chart of accounts in two different leaders, one is leading ledger & another is non leading ledger or if both leaders are non leading ledger.

Regards,

Prafful Kansal