Define Retained Earnings Accounts in SAP

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IMG -> Financial Accounting -> General Ledger Accounting -> G/L Accounts -> Master Records -> Preparations -> Define Retained Earnings Account

Transaction Code is OB53

We have to assign a retained earnings account to each P&L Account by specifying a P&L statement account type in the chart of accounts area of each P&L account in SAP.

We must have minimum one retained earnings account.

The system carries forward the balance of the P&L account to the retained earnings account in SAP at the end of a fiscal year. We can define one or more P&L statement account types per chart of accounts and assign them to retained earnings accounts.

We have to update chart of accounts USCA in the given field.

Update the following fields

Enter X in P&L statement

Enter the account code for Retained earnings account.

Click Enter/Continue icon

We will get a message “Account not created in chart of accounts USCA”, ignore it by pressing enter.

Click Save icon to save entry

In this way Retained-earning account is created for chart of accounts USCA in SAP. We need to create this GL code later on at the GL code creation stage.

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