Year End Profit and Loss Balance

[Former Member]

Hi,

How can I ensure that a previous year end P&L balances are closed off, i.e = 0 ? in SAP 05 Pl 10 SP01

Thanx and Regards

Lebo

[K_Pauquet · Accepted solution]

Hi Lebo,

after you completed the year end closing procedure following the guidelines published in the year -end closing guide, you could run the trial balance again with the from/to date of the last day of the closed off period & check that the P&L balance is zero.

All the best,

Kerstin

[Former Member · Accepted solution]

Hi,

Unfortunately I was not involved with this client's year end procedure. What I'm asking is, what happens if they ran the year end procedure and their P&L balance is not zero? how can I actually make sure that it is zero, because when I run the report like you mentioned the balance for 07 is not zero.

Tx again!

[K_Pauquet · Accepted solution]

Hi Lebo,

if the balance is not zero, then something is not right. You'll need to speak with the accountant who performed the YEC & check the YEC documentation that s/he prepared when doing it. How then was the balance sheet done? It sounds peculiar.

All the best,

Kerstin