We are about to have our first annual closing and we just realized that SAP does not generate postings for this. We were expecting an automatic document that would translate the balances from the P$L statements accounts to the Retained Earnings Account using the Balance carryforward (FAGLGVTR), but this is not happening. The translation of balances occurs without any actual document.
Does anybody know why SAP behaves like this? Any of your customers complains about the absence of this posting? From an accounting point of view wouldn´t this be incorrect?
Thanks for your answers and opinions.