Balance Carryfoward - New GL (FAGLGVTR)
Purpose
Use this transaction to transfer year end closing balance
to next fiscal year.
When To Do This
Perform this procedure when year end closing process is
done.
Prerequisites
·
Retained earnings account is created and configured.
Menu Path
Use the following menu path(s) to begin this transaction:
·
Select Accounting to
go to the Balance carryforward (New)
screen.
Transaction Code
Helpful Hints
The balance carry forward for the new fiscal year must be
manually performed at least once. Any subsequent postings to the previous year
will be automatically reflected in the balance forward.
Procedure
1. Start
the transaction using the menu path or transaction code.
Balance carryforward
2. As required, complete/review the following fields:
|
Field Name
|
R/O/C
|
Description
|
|
Ledger
|
R
|
Description of the Ledger.
Example: 0L
|
|
Company code
|
R
|
Independent accounting
unit; in most cases is a legal entity. You can prepare a balance sheet and
income statement for each company code. Several company codes can be set up
to manage the accounts of independent companies simultaneously.
 Give range from 1000 to 2000 to select
all Limited company codes.
Example: 1051
|
|
Carry forward to fiscal year
|
R
|
The year to which the
balances have to be carried forward
Example: 2006
|
3. Perform one of the following:
|
To
|
Go To
|
|
Use multiple company codes
|
Step 4
|
|
Use a single company code
|
Step 8
|
4. Click 
to enter multiple
company codes.
Multiple
Selection for Company code
Select specific company code/s.
5. Click 
to open the Ranges
tab.
Multiple
Selection for Company code
Select a range of company codes.
6. Click 
to list values to
be excluded.
Multiple Selection
for Company code
Exclude specific company code(s) within a
designated range.
7. Click 
to execute.
Balance
carryforward
8. Click 
.Deselect test run to
update the Next fiscal year. It is recommended to do a test run first before a
production run.
9. Click 
.
10. Click 
11. Click to execute the Balance
carryforward.
Balance
carryforwardLedger 0L for the year 2006 Test run
12. Click 
to see a display of the
balance sheet accounts carried forward.
Display
of balance sheet accounts
13. Click 
to return to the test
result log.
Balance
carryforwardLedger 0L for the year 2006 Test run
14. Click 
to view a listing of
accounts which have been carried forward to the retained earnings accounts.
Display
of retained earnings accounts
15. Scroll to the right to see the amounts that were transferred.
Display
of retained earnings accounts
Retained earnings shows the P&L GL
accounts and its value which are net results of that company. This balance
will be transferred to new Fiscal year as retained earnings.
16. Click 
to exit the transaction.
17. You
have completed this transaction.
Result
You have successfully transferred closing balance to new
fiscal year.
Comments
None
Financial
Accounting 
