Retained Earnings Error

Hi Guys,
I have a situation which is like this.
There has been a wrong entry in the system during 2001 and we dont know where it came from. It is now included in the retained earnings account.
How can i adjust my retained earnings account?
Thanks,
Srikanth.

Hi
If your retained earnings GL account not accepts to post manually, create a new GL account called "Prior period adjustment account" and do adjustments. This standard accounting practice.
Cheers
Srinivas

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Retained earnings account

Hi,
Can we maintain retained earnings accounts as open item management account?
our client has changed the status to Open item management account recently, due to this reason he is unable to do year ending carryforward through F.16. They are getting error analsys that change the status to without open item management.
treat this issue on priority ...
Thanks & Regards,
Prasad

Hello Prasad,
Retained earnings account is balance sheet account. At the closing of fiscal year, we need to carry forward balances of P&L accounts to retained earnings account. We have to create Retained earnings account at IMG level. Profit or Loss is carried forward to this account at the end of the year. Normally, companies use one retained earnings account. For this reason, X can be used as the key. In the chart of accounts you enter X in the P+L statement account type field.
Have you done any time year end closing functionally?
What we will be doing is drawing the "P & L account" transferring all balances in Rev & Exp to "P & L acc".
This P & L account in SAP is widely called as retained earnings account. At the end of the period, all your Rev & Exp are posted to this account which is a Balance sheet Item. This you are identifying as Retained earnings account type X and assigning a GL account. When you create this as a GL account system understands that this is Retained earnings account.
Profits of the organization are always Liability. Losses are Assets. As profits form part of "share holders funds".
You assign this retained earnings account in your financial statement version in such a way if the balance is credit in the liability side and if the balance id Dr then asset side
Thanks
Para

Retained earnings account fi

Hello friends ,
can anybody help me .iam trying to create retained earning account in master data in img but the errors continously coming is (data can only be displayed -data is still being processed) its coming only in display mode not in change mode.How can i make it into change mode.pls help me

Hi,
Have you tried to define retained earning account by using the following T Code.
OB53 - Define Retained Earnings Account
Most companies use one retained earnings account. For this reason, X can be used as the key.
In the chart of accounts you enter X in the P+L statement account type field, and for account determination you enter the retained earnings account under the key X.
FSP0 - Edit G/L account - Chart of accounts
Please assign points if helpful.
Regards,
Nitin Aggarwal

Creating Retained Earnings Account from Scratch

Creating Retained Earnings Account from Scratch
but
the error message is Account not created
what is causing the prevention?
Attached a screen shot?

HI Emad,
Error message indicates that 900000 is NOT created in the chart of A/c, So First go to FS00, create a G/L a/c and assign the same g/l a/c No: in OB53 and save.Then you are good to go. Good luck
Regards,
Sam

Posting mannual entries to retained earnings account

Hi Friends,
The scenario is : client is passing a mannual jv like this:
Retained earnings A/c                                 Debit   $100 (Say)
Other Comprehensive A/c (liability group)      Credit $100
They are telling that this entry is as per USGAAP. But as per best practices, we should not touch retained earnings account.
1. Please help me is there any other way of passing the above entry with out touching Retained
     earnings a/c
2. Because of this entry, system is giving error in EC-CS consolidation.
   Error Description is : There is a difference in Retained earnings as per P&L and Balance sheet.
please help me in solving the above two issues.
I am very very thankful, if you help me in this.
Thanks & Regards
Srimedha

Hello,
the retained earnings is usally calculated in EC-CS: it is the difference of the Active and passive side of the balance sheet.
See note 1305618 on this issue
Cheers,
David

The table name for the system generated transactions (Retained Earnings).

Hi Gurus,
I have a doubt and want to know from U experts there. Hope you won't let me down. The situation is
I have created a new chart of account in our Oracle Financial. Uploaded 2007 transactions and opened year 2008 and closed all the periods of year 2007.
When I open a new year Oracle will do internal process transfer R&L balance to Retained Earnings account and make income & expenses accounts to Zero.
I want to know the system generated entries which table they are stored, this transaction is not in Gl_Balances table.
Its an urgent plz reply back soon.
Thanks in advance
Barkat

Hello.
For EBS 11.5.10.2
Let’s suppose that the last period of you fiscal year is called ‘LAST-2008’ (not adjusting period). If you have an account with a debtor balance of 100 in this period, when you open the following fiscal year you will find an entry of 100 in the first adjustment period of the fiscal year that the ‘LAST-2008’ period belongs to, in the column BEGIN_BALANCE_DR.
It is clear that if the balance is creditor you will find it in the BEGIN_BALANCE_CR column.
Hope this helps.
Octavio

What is the using of retained earnings account

HI
In the above , please reply the answer as early as possible
with regards
srinivas

this question is poste in wronf foroum it sould be in FI not in MM
from www.investopedia.com
retained earnings account
The percentage of net earnings not paid out as dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders' equity on the balance sheet.
The formula calculates retained earnings by adding net income to (or subtracting any net losses from) beginning retained earnings and subtracting any dividends paid to shareholders:
Also known as the "retention ratio" or "retained surplus".
In most cases, companies retain their earnings in order to invest them into areas where the company can create growth opportunities, such as buying new machinery or spending the money on more research and development.
Should a net loss be greater than beginning retained earnings, retained earnings can become negative, creating a deficit.
The retained earnings general ledger account is adjusted every time a journal entry is made to an income or expense account.
hope this helps

PCA Balance Carry Forward - Retained Earnings

In PCA, balance carryforward does 1. Zero's out balances in accounts with transaction types & books the net of each account to the beginning balance Transaction Type.
2. Zero's out all P&L accounts and records earnings to retained earnings account for each profit center except that it books retained earnings without Transaction Type and without Partner Profit Center. It does not do for any of the other items.
Can someone please expain why it is behaving like that? or is there a solution to get transaction type and Partner profit center populated with retained earnings account.

Hi Nandini,
We also have the same problem
Can you please guide us to resolve the issue
Warm regards
Anand

Retained Earnings

Dear Sap gurus,
Please clarify the following:
1) If all P & L a/cs. are transferred to Retained Earnings a/c. as configured, then we could finalise the B/s. Can we do this closing process, periodically say 'Monthly' to analyse Monthly Balance Sheet. If this process is done only at the year end i.e. transferring balances to Retained Earnings a/c. then how can we analyse monthly upto the period balance sheet?
2) If Tax depreciation area (15) posts difference of depreciation affecting P & L, then how this will be processed without effecting ADP A/c. Will it be a charge in P & L a/c affecting our Profits? Book Depreciation area (01) is understood well.
3) A Vendor document (Invoice) is entered in GBP, then the open item shows balance in Local currency say., USD. If the Vendor wants to pay him through GBP is it possible in SAP to pay so in Automatic Payment Process.
4) If Asset Revaluation would be posted in APC then where the second offsetting entry (CR.) would go whether to Revaluation Reserve, or Special Reserve? If none of these, will it affect ADP A/c. (accumulated depreciation a/c)? Can anyone explain this process.

Hi
Answer for your fist question is You cannot update your retained earnings account every month when you run f07 and f.16 at the end of the year then only it will update the retained earnings. You can run monthly balance sheet it will display profit/loss evry month.
Regards
Muralidhar
To say thanks reward points

Creation of retained earnings statement in Financial Statement Version-OB58

Hi Gurus,
I am facing one problem as i didnot prepare the reports till now.
One financial statement version has created for Balance sheet and P&L account.they asked me to extended that same report by adding the Statement of Retained earnings in the same financial statement version.
How to proceed for this.plz help me.it would be a great help for me.will assign points...
Regards
Sap Guru

hi sapguru,
please cheek your mail and assign points.

Year end rate rollover issue (Retained Earnings)

HFM Retained earnings Showing wrong values after the years end(For January). It is happening for all parent entities at local currency total level(Entity Curr Total) but if we look at USD total values it is showing right values..
Thanks,
Mo

BBeloware the rules scriptswritten in the Rule file....
If pov_year > "2009" Then
               HS.Clear "A#35100"
               HS.EXP "A#35100.I#[ICP None] = A#RetainedEarnings.I#[ICP Top].Y#Prior.P#Last.V#<Entity Curr Total>"
'                     Balancing Account and Equity Translation Adjustment                                          *
'This occurs at the default currency if the assets do not equal liabilities and equity.
         ElseIfHS.Value.IsTransCur Then
            HS.Clear "A#35200.I#[ICP None]"
            HS.Exp "A#35200.C1#[None].I#[ICP None] = A#NetIncm.C1#TotC1.W#YTD.I#[ICP Top]"
            HS.Clear "A#35100"
            HS.EXP "A#35100.I#[ICP None] = A#RetainedEarnings.I#[ICP Top].Y#Prior.P#Last" ' + A#EquityAdj_35100.I#[ICP Top].V#<Entity Curr Total>"
            HS.Clear "A#CTA"
           If pov_entity <> "ElimCAN_TOT" Then
            HS.EXP "A#CTA = A#TotalAssets.I#[ICP Top] - A#TotalLiabStock.I#[ICP Top]"
            End If
        End If 'HS.Value.IsTransCur
Else 'Not a base level entity
'                     Balancing Account and Equity Translation Adjustment                                          *
'This occurs at the default currency if the assets do not equal liabilities and equity.
      If HS.Value.IsTransCur Then
'      Call WriteToFile ("Entity " & pov_entity & " for Value " & pov_value & " is a Translated Currency.Parentis " & HS.Parent.Member & "; Parent's currency is " & HS.Parent.DefCurrency(""))
         HS.Clear "A#35200.C1#[None].I#[ICP None]"
         HS.Exp "A#35200.C1#[None].I#[ICP None] = A#NetIncm.C1#TotC1.W#YTD.I#[ICP Top]"
         HS.Clear "A#35100"
         HS.EXP "A#35100.I#[ICP None] = A#RetainedEarnings.I#[ICP Top].Y#Prior.P#Last"
         HS.Clear "A#CTA"
         If pov_value = "USD" Then
          HS.EXP "A#CTA = A#TotalAssets.I#[ICP Top] - A#TotalLiabStock.I#[ICP Top]"
End If
      End If 'HS.Value.IsTransCur
End If 'Base versus Parent entities

FS10N Opening balance difference (Retained Earnings Account)

Hi,
We are getting opeing balance difference in FS10N balances from 2007 to 2008 (retained earnings accounts)
1. We have carry forward the 2007 balances to 2008 through T.Code : F.16
2. We are getting difference in 4 company codes.
3. But there is no difference in T.Code: FBL3N
Company      2008                            2007
1000     20,457,623.98     20,635,622.78
Difference     =     177,998.80
1001     49,091,242.21     48,913,243.41
Difference     =     177,998.80
1002     394,867,485.91-     396,028,401.55-
Difference     =1160915.64
1003     2,556,851.66-     1,395,936.02-
Difference     =1160915.64
Can you please let us know why this difference is comming ?
Thanks
Madhusudan

If you are using ECC use T. code FAGLGVTR - Balance Carryforward (New)
F.07 - Balance Carryforward for Vendor/customers
then only it shows the correct picture.
when FBL5N is line item report it is no way relavent to balance carry.
this may solve your problem
assign points if it help

Default Profit Center for Retained Earnings Account

Hi,
We wish to default a profit center for our retained earnings account. Currently, the system carries forward P/L balance to Retained Earnings Account Profit Center wise.
Kindly advise on how we can default a particular PC for retained earnings account. Also in case it is possble, does the system balance the PC wise trial balance by changing balances in Inter PC Balancing account (Zero Balance Clearing)?
Thanks!

Dear,
You can default through 3KEH in classic GL and through FAGL3KEH in New GL
Br, Vivek

P&L acc should not hit retained earnings account upon exe Bal Carry Forwar

Hi Friends,
As per business requirement I created two Depreciation expense accounts, only Book Dep account should hit retained earnings whereas other special dep account should not hit. Since both accounts are P&L they are picking upon executing Balance carry forwad.
Special Dep area is created to depreciate the complete asset in the year of purchase to help the org to allocate it to different Cost centers for funding request. As such these special dep accounts are out of scope for FSV so there is no impact on Bal Sheet,however upon exec FAGLGVTR full dep posted on these accounts are carried forward to next year along with true dep.
Please provide any suggestions that help to avoid some of the PL acc carry forard to retained earnings account. I am thinking of creating separate chart of account for these accounts but this consume lot of time for testing all the scenarios.
Thanks in advance.
Venkat

Hi Madhu,
Here is the scenario.
APC of all acquisitions are allocated, in the year of acquisition, among several cost centers using statistical key figure (Work hours). To satisfy this requirement, a second depreciation area (Special) will be created. In the second depreciation area, all assets (regardless of asset class) will be depreciated fully in the year (month) of acquisition u2013 (the same depreciation key as low value asset). The value in the second depreciation area will flow to controlling.
This full depreciation is not even consider in financial reporting as the number range of these dep exp accounts are out of range in FSV. The main purpose is to allocate full depreciation among CC in advance for funding request.
Thank you,
With Regards,
Venkat
Edited by: Venkat Reddy Yedulla on Jun 7, 2010 6:22 PM

Year wise GL account retained earnings

Hi Friends,
My client has ECC5 version. This is 2nd year of closing (march 09). Now he wants 2008 year profit to be posted to Retained Earnings 2008 GL account.Like wise he is asking me to maintain year wise retained accounts.
Last year ie 2007, in OB53, assigned 2007 retained earnings. Now they have created 2008 retained earnings gl and they are asking me to assign in OB53. They are expecting that when they do carry forward / year end process, 2008 year profit will go to 2008 retained earnings account.
I am doubt that will it happen like that? If i change as them and do, what will be the consequences?
I never come accross these situation... Please help me.
Thanks & Regards
Srimedha

??? who introduced SAP there and educted user???
Check transaction FAGLGVTR for carryforward.
BR
Hein

Retained Earnings Error

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