Announcement:
wanna exchange links? contact me at sapchatroom@gmail.com.
Posted by
Admin at
Toolbox sap-acct Reply from Kathrine on May 23 at 1:12 PM Thanks, I know the transaction. That is not my issue. Can I have 2 different accounts, 1 for CY RE and 1 for PY RE? If so, can we set it up so that, at the end of the year period close the CY will roll into the PY? Also, the CY RE should equal my current year P & L?
| | | ---------------Original Message---------------
From: Kathrine
Sent: Tuesday, May 22, 2012 9:23 AM
Subject: Current Year (CY) Retained Earnings (RE) Account and Previous Year (PY) RE Account
For my company, we have a Current Year (CY) Retained Earnings (RE) account and we have Previous Year (PY) RE account. For our CY RE; from a balance sheet view this account should equal our current period P & L (I think from a trial balance point of view this account should always be zero). For our PY RE; this account should be the total PY RE. After a period is closed, the balance of the P & L for this period should roll to this account. We have an issue where the retained earnings do not roll. What we think should happen (which I'm told happens very commonly in other companies) is that after the period is closed the balance of the P & L should roll into PY RE….so how do we make SAP, after the period is closed ( a ) roll the CY RE balance to the PY RE account? ( b ) have the balance of the P & L roll into the PY retained earnings going forward and ( c ) make the BS so that it shows the balance of the RE account and calculates the CY RE to equa
l the current period P & L? |
| Reply to this email to post your response. __.____._ |   _.____.__ |
