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Can P&L GL A/C Balances be C/F to next Year instead of Retained Earnings

By: Shailesh Singh | 04 May 2010 5:21 am

In SAP, as part of the Year End Closing exercise one of the activities is to Carry Forward the Balances to the Next Fiscal Year. This is done using the following 2 T_codes:

•    FAGLGVTR: Balance carry forward – PL and BS
•    F.07: Balance carry forward – AR and AP

As per SAP standard practice the following takes place:

•    P & L account balances – All the balances are "Initialized" & the total is transferred to "Retained Earnings account".
•    Balance Sheet account balances – All the Open Items, which form part of the balances for each (accounts / sub accounts) are carried forward to the next Fiscal year.

The requirement of "KCPC" which is a contracting Company & follows "IAS 11". We need to carry forward the P&L account balances of all revenue and costs by "PROJECT".

This means that all the P&L account balances (cost & revenue) for all the "OPEN PROJECTS", should be Carried Forward to the next fiscal year & should NOT be transferred to RETAINED EARNINGS ACCOUNT.

Only the "CLOSED PROJECTS" the P&L account balances (cost & revenue) should be transferred to Retained Earnings…..

We are looking for some solution in SAP. We would like to know if any such facility is available wherein we could partially carry forward the P&L account balances??

Comments

Hi Vinay,
I am not an expert but I think ABAP should solve the problem by identifying such individual projects. I should not be a problem but a very technical matter altogether.

OR

You should find whether there is any scope in SAP to group those revenue accounts under work-in-progress till the closure of the project so that you can carry forward all the closing balance to the preceeding year till the completion of project.

Let me know whether that solved your problem or not.

By: Shailesh Singh | 06 May 2010

Hi Vinay,

Some year end activities to be done in PS module. you can check with ur PS Consultant.He can explain how to close the projects & Carryforward the account balances to the next year.

Hemanth Kumar

By: | 09 May 2010

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