FAGLGVTR

Title: Balance Carryforward (New) 11/20/07 Functional Area : Finance

Process : General Ledger

File name: ~BPP_FI_GL_FAGLGVTR_BALANCE_CARRYFORWARD_(NEW)_112007.DOC

Version: 08 SBBC Final Review Last Modified: 11/28/2007

Work InstructionPage 1 / 20

Work Instruction

Balance Carryforward (New) 11/20/07 FAGLGVTR

Purpose

Use this procedure to carry forward the balances in the general ledger to a new fiscal year. This program can be run as often as necessary to complete the process.

It is possible to create transactions in the new fiscal year if this program has not been executed.

The balance is carried forward for P&L accounts closing to the Retained Earnings account and the Balance Sheet account balances are transferred to the new fiscal year.

Trigger

Perform this procedure as part of the year end process to carry forward balances to the new fiscal year.

Prerequisites

• The Retained Earnings account(s) is configured to allow the closing of P&L accounts for the year end closing process.

Menu Path

Use the following menu path(s) to begin this transaction:

• Select SAP Menu Accounting Financial Accounting General Ledger Periodic Processing Closing Carry Forward FAGLGVTR – Balance Carry Forward (New).

Transaction Code

FAGLGVTR

Helpful Hints

None






Procedure

1. Start the transaction using the menu path or transaction code.

SAP Easy Access

2. Double-click .






Balance carryforward

3. As required, complete/review the following fields:

Field Name R/O/C Description

Ledger R The accounting ledger the documents are posted to.

Example: ZL

Company code R The Company Code is an organizational unit within financial accounting.

Broward County Public Schools (BCPS) is only using one company code. This field should always be SBBC.

Example: SBBC







Version O Description of Version.

BCPS is not using Planning; therefore, this field should always be blank.

Carry forward to fiscal year

R Period, 12 months as a rule, for which the company is to create its inventory and balance sheet. The fiscal year can be the same as the calendar year, but does not have to be.

Example: 2008

4. Click to check the Test Run selection box to run process in a test mode to verify and review information before executing in production.







5. Click to check the selection box in order for the detail of the expense accounts that will be closing to retained earnings account.

6. Click to execute in the test run mode.

Balance carryforwardLedger ZL for the year 2008 Test run

7. Highlight the Balance carry forward successfully completed line to display details of carry forward.

8. Click to display the Balance Sheet account balances that will be brought forward.






Display of balance sheet accounts

9. Click go back to the Balance carryforward Ledger ZL for the year 2008 Test Run screen.







10. Click to display balances in the expense accounts that will be carried forward to Retained earnings account.






Display of retained earnings accounts

11. Use the page down scroll to view the remainder of the page.







12. Continue scrolling down until you view the entire information.







13. Click to return to the Balance carryforwardLedger ZL for the year 2008 Test run screen.







14. Click to return to the Balance carryforward screen.







15. Click to deselect Test run to run program in production.

16. Click execute run in production.






Balance carryforwardLedger ZL for the year 2008 Update run

The system displays the message, "Balance carryforward to fiscal year 2008 successful."

17. Click until you return to the SAP Main Menu.






SAP Main Menu






18. Double click on FS10N. This should be done to verify that the correct account balance was brought forward.

G/L Account Balance Display

For this example, we are verifying GL account 11112001.



G/L account R The G/L account number identifies the G/L account in the chart of accounts. They represent the categories or classifications of assets, liabilities, fund equity, revenues and expenditures at the lowest level of detail necessary for internal and external

Example: 11112001







Fiscal year R A period of usually 12 months, for which the company produces financial statements and takes inventory. A fiscal year need not correspond to a calendar year. Example: 2007

20. Click to display account balance for previous fiscal year.


21. Use the page down scroll to display the all of the account information.







22. Click to return to the G/L Account Balance Display screen.









Fiscal year R A period of usually 12 months, for which the company produces financial statements and takes inventory. A fiscal year need not correspond to a calendar year.

Verify that the correct balance was brought forward in the new fiscal year.

Example: 2008

24. Click to execute.







25. Click to return to the G/L Account Balance Display screen.







26. Click until you return to the SAP Main Menu.

27. You have completed this transaction.

Result

You have successfully carry forward the GL account balances to the new fiscal year.

Comments

Documents

FAGLGVTR