If your client say to you that u have to maintained to retained earning account in our co. code , tell me the processor in detail ? what are the benefit for 2 retained earning a/c in same co. code?
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Answer Posted / sapgaurav
It is a bridge to flow the profit or loss to the balance sheet.
In Customizing, users define the retained earnings account that is assigned to expense accounts during G/L account master record creation. If there is only one retained earnings account, the system automatically uses the one defined in Customizing. If there is more than one retained earnings account, when you create a master record, you can select the retained earnings account for each profit and loss statement account.
steps to create Retained Earning Account
T-code OB53
enter chart of accounts
Account Assignment
in P&L stmt give X
& in Account: give the account number
You can create the account in FS00 later also
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