I Failed my Interview in #ErnstandYoung (E&Y) for not knowing about this.
LEADING LEDGER vs NON-LEADING LEDGER
The LEADING LEDGER is like the main book where all the important financial transactions of a company are recorded. It's like the official record book that a company must maintain for legal purposes, such as tax reporting.
#Forexample, imagine a company's main bank account where all the income and expenses are recorded. This is the leading ledger in SAP.
A NON-LEADING LEDGER in SAP is like a copy of the main ledger but used for different purposes. It's like having a separate notebook where you jot down specific types of expenses or income for your own analysis, like personal spending versus business expenses.
#Forexample, if the company operates internationally, it might want to keep track of finances in different currencies or accounting principles. Each of these separate currency accounts would be a non-leading ledger.
So, the leading ledger is the primary record for legal and official purposes, while non-leading ledgers are additional records used for specific analysis or reporting needs, like different currencies or management reporting.
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