Is it mandatory to carry forward balance ?

[dileepkurupk]

Hi Experts,

Is it mandatory to run FAGLGVTR – GL Balance Carry forward (New) and F.07 - Balance Carry forward (AR/AP) on the first day of the new fiscal year or does the system will automatically carry forward the balance. The fiscal year is Jan to Dec 2018 and we have not yet started external auditing.

We are using ECC 6.0 EHP 8.

Thanks & Regards,

Dileep

[msshihab1987]

Hi,

It is mandatory to Carryforward the balance of GL account, Customer and Vendor account. Sytem will not carryforward any balance automatically , we have to use the Transaction FAGLGVTR and F.07 to transfer the balance in New FY.

There will not be any impact in your previous balance and will not affect your auditing process. You can post additional audit entries when it is needed in your previouse FY.

Regards

Shihab

[iklovski]

Hi,

You are not obliged to do it on the first day, but eventually you would need to do it, of course. Once performed, retroactive postings are supposed to be carried-forward automatically, but this doesn't work in all cases. Therefore, it is suggested to perform carry-forward one more time, before the audit and the final closure of the fiscal year. By doing this, you can only correct the data, not harm it.

Regards,

Eli

[former_member198650]

Hi,

Yes, it is mandatory to carry forward balances. if you are not done, then then your balances wont match.

Regards,

Mukthar