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Toolbox sap-acct Reply from Kathrine on May 23 at 1:14 PM Thanks, I am familiar - that is not my issue. My question is: can I have 2 different accounts, 1 for PY RE and 1 for CY RE? For PY RE I want, at my period close, my CY RE to roll into my PY. Then for my CY RE, I want it to equal my 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? |
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