Retained Earnings Account

[Former Member]

Dear Gurus

Please i want to close P&L &the standard transaction FAGLGVTR only posts yearly,i want a solution so that i can close by period not yearly,Thanks for your cooperation.

Regards

Hisham

[Former Member]

hi

Define Retained Earnings Account

You assign a retained earnings account to each P&L account by specifying a P&L statement account type in the chart of accounts area of each P&L account.

At the end of a fiscal year, the system carries forward the balance of the P&L account to the retained earnings account. You can define one or more P&L statement account types per chart of accounts and assign them to retained earnings accounts.

Note

Your specification depends on the chart of accounts.

Requirements

The chart of accounts must be specified in the chart of accounts list.

Standard settings

Account 332000 was defined for chart of accounts IKR and account 900000 was defined for GKR, using the key "X" respectively.

Activities 1. Change the standard settings if necessary. If you do not use one of the standard charts of accounts, you must specify the P&L statement account type(s) and the retained earnings accounts for each new chart of accounts you set up. 2. Make sure the accounts you specify are created.

[Former Member]

Hi

Retained account is used for transfer of P&L account balance to next year.

In any business senario P&l result will transfer to the next year through retained account. It is not possiable or no logic in transfer result by period.

Regards

Srinivas