Statement Of Retained Earnings

Dear Friends,
we have already created the balance sheet and p&l statement in Financial Statement Version,and need to prepare the Statement of retarined earnings to finish that.is it possible to create Statement of retarined earnings following that balance sheet and PL statement.Or do i need to create Statement of retarined earnings form and assign to report in FSI1.
please suggest me
Regards
Sap Guru

The problem is resolved externally

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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.

Appopriation of retained earnings

Hi,
Can anybody help me out to understand how system,
behaves differently for ARE in balance sheet and ARE in
income statement.?
is it mandatory ,that if I selected ARE in income statement
then all my ARE accounts like group adjustments and
minority adjustments should also be income statement
accounts.?
Can I say that I can work with subsequent consolidation
without activating ARE itself ?

The appropriation of retained earnings can either be integrated on the balance sheet or be stated as an addendum to the income statement.
In the former case, a FS item at the end of the income statement discloses the transfer of the annual net income to the balance sheet.
In the latter case, the transfer item is located at the end of the retained earnings statement and states the retained earnings.
Which method is used affects the retained earnings item on the balance sheet as well as the balance to be carried forward.
For subsequent consolidation in Cons of Investment you should indicate an item accourding to the ARE setting in the Cons Area. Hence if Balance Sheet use Balance Sheet item, if Income Statement us Income Statement item.
ARE for COI must be configured for Net Income. Bonus Payments and Distribution of Dividends is optional.

Retained Earnings Statement (Financial Statement Version) Issues

1. If I post any thing, will it update Retained earnings account automatically or can I create any formula?
2. The requirement is  how the Retained Earnings Beginning of year will update from P&L statement?
3. How the Retained Earnings P+L result will update
Note: If you tell the solutions for 2 & 3, then my problem will get resolved
Regards
Sap Guru

Hi,
At the year end, whenever the balance carryforward is done, it will set the Retained Earnings G/L to the net balance of all Profit and Loss G/L Accounts for the fiscal year. Thereby when the new year is opened all the P&L G/L Accounts will have zero balance, while the Retained Earning will show the balance carried forward as the net value.
So, as and when the balance carryforward is done, the retained earnings get updated. Also, once you have done the balance carryforward to any financial year, even if you post again in the previous year, the retained earnings will keep getting updated automatically without executing the balance carryforward again for the same fiscal year.
Ramanand

Retained Earnings Statement Format(Financial Statement Version)

Dear Friends,
Since 2 days i am requesting you regarding Retained Earnings Statement Format(Financial Statement Version)
Please send me the fromat for Retained Earnings Statement Format(Financial Statement Version)
It would be a great help for me and points will be assigned...
Regards
Sap Guru
[email protected]

hi sapguru,
please cheek your mail and assign points.

Retained Earnings Roll Forward (GAAP vs. STAT)

Does anyone have any suggestions on how to set Closing Rules, so that you are able to run separate Retained Earnings roll forward, one for GAAP entries, and the other for Statutory Adjustments, with the Book Code field being your point to differentiate?
I have set a chartfield rule in our Clossing rules to capture only Book Code entries for GAAP, but when running the RE Roll Forward in testing, both the GAAP and Stat entries are being captured in the Roll Forward.
Appreciate if anyone has any suggestions on how you have approached completing separate Roll Forwards for GAAP vs. Stat.
Thanks.

We don't roll it into retained earnings. In fact, you cannot roll a balance sheet account into retained earnings. We just report that account in the same financial statement node as the retained earnings account is in.

Why do we need retained earnings account in income statement?

hi,
as far as i am concerned we need a retained earnings account only in a balance sheet statement. however i dont understand why do we need a retained earnings account in the income statement. can someone explain?

Hi
The account nothing but contains the accumulated profits which are divisible to the shareholders carry forward from the P&L account.
we define Retained earnings a/c in OB53.
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
assign points if useful

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 on the Trial Balance Report

Experts,
I have what I believe to be a pretty simple question however, I am unable to locate any good answers for it through the Flashbooks, the DRC, or this forum.
Why, on the Trial balance report, does the retained earnings account show a 0 balance?
Thanks in advance, and kind regards,
Lucas Fischer

Hi Lucas Fischer,
Retained earnings account is for P&L statement. It is nothing to do with balance sheet.
Thanks,
Gordon

Retained earnings calculation

Hi Friends
Im very desesperated with a task in the consolidation monitor , the retained earnings have to be calculated in SEM, and am trying to cuztomizing a method, but I cant use selected items the system dont works because are items posting automatically
my thask is a reclassification from items:
accounts balance sheet are reclasificated to an item from RE in B sheet
accounts income statement are reclasificated to an item from P and Loss
any have experience in retained earnings calculation???
thanks in advance
best regards

Here is what we have in our config:
BS FS Items range: 100000 to 399999
RE FS Item: 360000
P&L FS Items range: 400000 to 899999
Method for Reclassification = One Sided Reclassification, with just a Source (no Target)
Step 1:
Trigger = FS Items 100000 to 359999 AND 360001 to 899998
Source = 899998
*Note, this step usually doesn't do anything, as it really only posts any out-of-balance for a trial balance to FS Item 899998.
Step 2:
Trigger = FS Items 100000 to 399999
Source = 360000
Step 3:
Trigger = 400000 to 899999
Source = 899999
Hope this helps.
Regards,
Jim

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

BI Content; FI-GL; Retained Earnings

Hello,
the following link leads to the SAP documentation on the FI-GL BI Content (query 0FIGL_C01_Q0010 "General Ledger: Structured Balances - Accumulated"):
http://help.sap.com/saphelp_nw70ehp2/helpdata/en/9d/5d788c65d211d3971c006094b969cf/frameset.htm
The documentation states the following:
"This query constitutes, at most, a preliminary stage of the financial statement since, in contrast to the creation of the financial statements using program RFBILA00, the following closing entries cannot be made in the Business Information Warehouse:
- Comparison of costs and revenues in the retained earnings account, and calculation of the balance, that is, the profit or loss
- Corresponding posting of the profit or loss to the equity account in the financial statements
You can make these entries in the Excel sheet for your query, which will enable you to create your financial statements completely in the Business Information Warehouse."
Please, could someone explain to me what this means in simple terms?
Many thanks in advance,
Gerrit
Edited by: Gerrit Schang on May 20, 2010 3:50 PM

Sure Laurent - however in your environment it seems that the blueprint has not highlighted the problems
I would have been screaming from the rafters if I known I had a local CoA that dominated reporting
In this case I might have looked at the group COA and consolidated in Outlooksoft and left the co code COAs to handle local FSV reporting (rather than use co code specifics)
Alternatively I would have set up a totals table in GLX (FI-SL) in sub ECC 6 or an alternate ledger in ECC6 to handle the alternative reporting - then new cube and copy the virtual cube function module code (and change the hard coded cube) to do the FSV reporting correctly
Oy course there are many ways to skin a cat (and many other ways to do this) - the problem I guess you are having is that you have an existing implementation where these considerations where not blueprinted or even brought up

Retained Earnings Problem

We have created a situation where our retained earnings is doubled. We initially had calculated our retained earnings as the sum of our balance sheet accounts. We later updated our configuration to be the sum of our income statement accounts. After making the change we reran the RE task and it doubled our amount of RE. Now we cannot "undo" this. Everything we potentially try just results in the RE amount being reposted. Does anyone know of a way to reverse everything so we can start from scratch with running our RE task?

This method/task should be for posting level 00 as the trigger, source and target. When data is reloaded it is therefore deleted (assuming update mode = delete all). Then the records are not duplicated.
The reclassification must be a one-sided reclassification.

What is Retained Earnings account and P&L Type

Hi,
What is Retained Earnings Account, how the transactions are updated to this account and what is P&L statement Type.In which case we create multiple REA and P&L Statement type. Please Explain me.
Thanks in Advance
Abhi

Retained earning account is used to profit or loss from P&L satement accounts.
Each P&L account is assigned to a retained earnings account via a key and this how transactions are updated in RE account.
We use different retained earnings accounts in an international corporate group to meet various requirements for preparing financial statements.Chk the link
http://help.sap.com/erp2005_ehp_01/helpdata/en/c7/a88d2243dd11d182b30000e829fbfe/frameset.htm
Assign points if useful

Retained Earnings account type

Hi guys,
While creating a retained earnings account, we have a field called P&L statement account type which is given as X or Y. What is the meaning of this?
Do we assign this X or Y somewhere to the Pand L account.
Thanks
srik.

HI,
With the P&L statement account type, you determine the retained earnings account for each P&L account. The retained earnings account is used during year-end closing to calculate the company's result.
If you are creating a P&L account, you must make an entry here.
Dependencies
If you determine during a fiscal year that you mistakenly designated a G/L account as a P&L account instead of a balance sheet account, you will need to change its master record. You will then have to rerun program SAPF011 to correct the balances of the G/L accounts carried forward
Means will transfer the P& L account balance to balance sheet.
Reg
Madhu M

Statement Of Retained Earnings

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