P&L Account

Question

hi all,
Can someone tell me how i should create a P&L statement account? i know that the T-code is OB53, i choosed the chart of account for wich i want to set up, but after i input the account it tell me that account does not exist in  my chart of accounts. If i want to set up this account, doesn't allow me to do, because it is not set up a P&L statement account.
Regards,
Vinay

Answer 1

Vinay,
Trasaction OB53 is where you set the P/L type and accountthat would end the result from P/L balance (Income-Expenses)every year for the balance carry over. This account can be one or many, but it is typically known as the 'previous years result'  or 'retained earnings' (Equity). You have to set up at least one indicator that represents the type of the P/L account (This can be one or two digit combination 'Alphanumeric') and this type is  linked to one GL account. While creating GL accounts through FS00 if an account is P/L, at the chart of account level ,  you have to select what type of  P/L account. What is going to happen is at year end carry forward the ending balance of the created account would be taken to the corresponding account mapped on the P/L account type.
Example for P/L type:
X, Y or Z
XX, A1, B3, etc.
Hopes this helps.
GG