What does the General Ledger manage in SAP FICO?

The General Ledger in SAP FICO serves as the central repository for all financial data. It integrates and summarizes all business transactions, providing a complete picture of the organization's financial position. Every financial transaction the company records flows into the General Ledger, ensuring that all entries are reflected in the financial statements. This comprehensive aggregation of financial accounts is critical for accurate reporting and analysis of the company's financial health.

This functionality allows businesses to maintain a clear and organized account of their financial operations, which is essential for compliance, auditing, and managerial decision-making. The General Ledger supports various financial aspects, such as assets, liabilities, revenues, and expenses, making it a cornerstone of effective financial management in SAP.

The other options refer to specific areas or aspects of accounting that, while important, do not encapsulate the broader function of the General Ledger in managing the overall financial accounts summarizing all business transactions.