New General Ledger Accounting offers the following advantages:

• Integration of managerial and financial accounting, including segment reporting
• Easy extensibility
• New procedures for parallel accounting
• Acceleration of period-end closing (fast close)
• Improved transparency
• Corporate governance
• Reduced ongoing costs

Many different migration scenarios are imaginable for the transition from classic General Ledger Accounting to New General Ledger Accounting, ranging from the straightforward merge of existing ledgers to a totally new conception of accounting, such as the introduction of segment reporting for compliance with new accounting principles. In particular in the case of a new conception of accounting, there are two aspects to the transition to New General Ledger Accounting: firstly, a conceptual business part, and secondly, a technical part dealing with the migration of the existing accounting data to the new structures for General Ledger Accounting.