How to transfer balances from Gl to another GL ??

Question

Hi all,
How can we transfer open items balances from GL to another GL ?? When that need arises to the company ??
Thank you..
Suresh

Answer 1

Hi,
We transfer GL account balance from one GL a/c to another GL a/c in the following situations.
When the GL a/c need to be maintained in Open item Management, say GL a/c belongs to a Balance sheet item but you have forgot to check the Open Item Management check box and made entries to that particular GL a/c.
In this situation you can’t activate the Open item Management when the A/C is having balance, so first u need to make the GL a/c zero balance and than check Open item Management check box, follow the following steps.
Create another dummy GL a/c, say ABC and the GL a/c which you want to make zero balance is having Dr Balance. Now make a posting using FB50 or F-02, you Dr the ABC GL a/c and Cr the other GL a/c so that the GL a/c balance becomes zero, now go to GL master and check the Open item Management check box. And again make posting through F-02 Crediting the ABC GL a/c and Debiting the other GL a/c.
Hope this helpful, reward points in the way of expressing thanks