Balance of balance sheet accout not getting carry forward properly

[Former Member]

Hello Experts,

There is one particular balance sheet account (a/c name is profit/loss brought)   for that closing balance is not getting carry forward properly to next year.

If i am checking closing balance of 2013 for that particular account, I found it is not matching with opening balance of year 2014.

What would be the reason, please advise.

Thanks

Manoj

[former_member198650 · Accepted solution]

Hi Manoj,

It adds/subtracts the profit/loss for the previous year, when you check the opening balance for next year.

Regards,

Mukthar

[Former Member · Accepted solution]

Hi Mukhtar,

I think balances should be transfer automatically at the time of year end activity for balance sheet accounts. There is only one exceptional account which is having such problem. Remaining all account are showing correct figures.

I could not understand how to add and subtract profit/loss in balances.

Thanks

Manoj

[former_member198650 · Accepted solution]

Hi,

Yes, you are right. It carry forward the profit/loss to next year. Due to this there is a difference between closing balance and opening balance.

Regards,

Mukthar

[Former Member · Accepted solution]

Manoj,

You are saying it is profit/loss brought account, but it should be retained earnings P&L account.

if it is a retained earnings account the profit or loss will carry to B/S.

Regards,

Ravi

[Former Member · Accepted solution]

Thanks Ravi and Mukthar,

you mean to say it is retain earning account and it is only  used for carry forward the profit/loss to next financial year.

But I have one doubt for balance carrying forward we need to do actual posting on retain earning account or is there any other way to carry forward?

As i am unaware about year end activity please advice me on it .

(account if check FS10N or fbl3n I found there is no posting happened on this account)

Thanks

Manoj

[Former Member · Accepted solution]

Hi

I have checked in FS00, it is balance sheet account

Thanks

Manoj

.

[Former Member · Accepted solution]

Hi Monoj,

No need to do any direct postings to this GL account, only the net profit from P&L will transfer to this account automatically. The standard SAP coding has been designed like that.

It should not be a B/S account, please check in the previous year how the balance was updated after year end balance carry forward.

Regards,

Ravi