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[sap-other] Retained Earnings Account - Link

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Question from sam_sree on Sep 22 at 2:25 AM
Hi Experts,

Since I am a new learner, Need your guidance.
In T-code OB53 - I have maintained a profit & loss statement acct type x and GL account 123 as retained earnings accounts.

I would like to know the process, how the Profit or Loss get's transferred to Retained accounts and from retained to Balance sheet.

Is my understanding correct? Please guide.

Thanks,
Sree
 
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