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Universal Parallel Accounting

Expert
Active Contributor
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With the Universal Parallel Accounting, it is now my understanding the 0L is the leading ledger and assign the corporate accounting principle. The local GAAP / accounting principles is assigned to the other ledger, 2L. Is this correct? We no longer need to make a ledger switch in S4HC?

Accepted Solutions (1)

Accepted Solutions (1)

Expert
Active Contributor
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Yes, it is almost correct. We still have our 0L and 2L. So, default will be 0L leading one with Local GAAP and you can request for ledger switch that you are getting 2L as leading ledger. It is not really part of the parallel valuation here in this session

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