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Re: [sap-acct] Close Out Balance Sheet acct Balance

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Posted by ron.roberts (Managing Consultant)
on Sep 28 at 7:53 PM 		Mark this reply as helpfulMark as helpful
First make sure that you have closed out the P&L accounts to retained
earnings. Then, manually post closing amounts to all balance sheet
accounts, with an offset to your retained earnings account. All should be
at zero (local currency).

Be careful if you have any non-local currency postings as you may need to
zero out each currency and run a currency revaluation (local and global is
best) for some G/L accounts before doing the above.



On Tue, Sep 28, 2010 at 1:16 PM, USER_2171638 via sap-acct <
sap-acct@groups.ittoolbox.com> wrote:

> Posted by USER_2171638
> on Sep 28 at 1:17 PM My company would like to close out all balance
> sheet accounts for one of our company since business will be discontinuing.
> Does anyone know how to clear the retained earnings balances to zero?
> Thanks for any assistance.

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ron.roberts
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