Retained Earning Account in General Ledger Accounting SAP FICO

Retained Earning Account

Definition:

With the P&L statement account type, you determine the retained earnings account for each P&L account. The retained earnings account is used during year-end closing to calculate the company's result.

If you are creating a P&L account, you must make an entry here.


Define Retained Earning Account
Menu Path: IMG – Financial Accounting – General Ledger Accounting – General Ledger Accounts –Master Records – Preparation – Define Retained Earning A/c
T Code : OB53



Steps:
Enter Chart of Accounts
1. Enter ‘X’
2. Enter Liabilities A/c
3. SAVE the settings
4. Press Enter