Why Retained Earning Account is necessary for the set of
book creation while implementing oracle new business.
- 4 Answers
- 18228 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / srinibas
HI,RETAINED EARNING IS AN ACCOUNT WHICH BELONGS TO FUND
BALANCE QUALIFIER.AT THE TIME OF YEAR END CLOSING WE NEED TO
TRANSFER THE DIFFERENCE BETWEEN REVENUE AND EXPENDITURE TO
RETAINED EARNING ACCOUNT
IF I AM WRONG CORRECT ME
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / rajiv gupta
Yes , u r right Srinibas....
Becasue if we do not define this Retained Earning account
then where the difference of Earning and expenditure will
go. This account is also called as Profit and Loss account
(P&L). As the balance in this account reflect the Profit
and loss of company.
| Is This Answer Correct ? | 8 Yes | 1 No |
Answer / kruthi
Retained earning account is mandatory for the SOB.Per year end closing balances like diffrences it will go to this account.
| Is This Answer Correct ? | 0 Yes | 0 No |
what are the execution methods in oracle apps ?
What is meant by pay on receipt auto invoice?
what is drill down in oracle apps r12? What is GL Drilldown?
Intercompany setup in oracle applications with transaction processing
Hi All., Can Any one tell me how define the receivable options in AR. what are steps should be followed for creating a receipting workbench.
what is budgeting and steps required to configure this
Use of Distribution set?
what was your SLA agreements in support project?
we have purchased a loptop from the supplier, we have made the payment to supplier through check and the supplier has taken the money from the org. bank and even the transaction has been reconciled with cash management. But due some reason we have returned the loptop to the supplier. Now How this real time scenario will be resolved in the Payable module.
What are the types of requitions?
How to open the new future periods in GL while we are in P2P or in O2C
In Multi Org can you tell what is SHORT ENTITY ?
Oracle Apps Technical 
