Year end activity

[Former Member]

Hello all experts,

At the time of year end / closing, i want the balances of p & l a/c. or income and exp a/c. bal. should get "zero" in system

shall anyone help me to sortout this.

[Former Member]

Hi all,

What i want is, the balances of P & L A/C. AND INCOME & EXPENDITURE A/C.

Should get transferred to retain earnings a/c. with the entry i.e. for example,

suppose the Interest paid a/c. has the bal of Rs. 123500.00,

I want it should transfer to retained earning a/c. with the entry

Retained earnings a/c.----

---

Dr. 123500.00

Interest Paid a/c.----

---

Cr. 123500.00

Please help me

[Former Member]

Dear Archana,

According to SAP the execution of the balance carry forward programs represents the closure of the

year. The G/L balance carry forward program does not make any postings. It calculates the net operating

profit to the Retained Earnings Account and transfers the balances to period 0 of the next fiscal year.

For countries that need to do closing and opening postings (hard closure) SAP provides the program

RFSUMB00 (or if the new General Ledger is in use program FAGL_YEC_POSTINGS).

It is a country specific program- Italy, SLovakia, Turkey, Romania...

You can check the documentation for it or search for notes.

Regards,

Milen.

[Former Member]

Hi,

During the yearend if you run f.16 program system will carryforward the balances for only balance sheet accounts, not the P&L accounts.

The balances in P&L accounts will be transferred to the reatined earinings accounts. So P& L accounts will not carried any values to the next year. Please run F.16 program ..

Thanks

Prasada

[Former Member]

Hi Archana,

When we create GL masters, we define it as P&L account or Balance Sheet. When define any P&L account, it automatically gets linked to the retained earnings account you create for your company code. During year end closing, we execute transaction code F.16, the P&L account balances automatically gets transferred to retained earnings account and in the next fiscal year, the balances are 0 for those account.

Note, the balance will remain in the accounts for the closed (previous) year.

Hope this explains.

Thanks and Regards,

Anit