how to transfer the retained earning amount from curret
year to next year? what is the path in apps financial
- 3 Answers
- 21222 Views
- TCS, I also Faced
- E-Mail Answers
Answer Posted / rajiv gupta
When we close last Finacial period (Soft/Hard close),system
automatically transfer the difference of Income and expense
accounts to the retained earning account which is
considered as the asset for the next financial period which
in turn get distributed to different account in next period.
This Retained earning account is mentioned at the time of
creating a Set of Book(SOB).This Retained earning account
is also called as Profit and Loss account(P&L).
At the time of closing financial period other account types
like asset and liabilities are carried forward to next
financial period.
Cash in Hand is an asset account.
| Is This Answer Correct ? | 9 Yes | 1 No |
Post New Answer View All Answers
SLA usage ans how to define setups?
Explain Customer Creation and Maintenance Process. Provide samples of customer master records with Payment Terms.
What is the procedure for requition import?
We have both consumption tax and With Holding Tax on each invoice, will there be any conflict involved?
What is meaning of deprecation?
can we define 2 different currency revaluation at a time??
how to do customization while doing oracle implementation. what is the role of functional consultant in customization?
What is the entry in oracle apps ap,ar,gl for following transations1.one pipe purchase at rs.1002.one pipe sales at rs.150
I have a requirement where during the consolidation into USD (from GBP books) I want use two different exchange rates for two consolidations. Child SOB is same but the Parent SOB's are different. How can this be done in Oracle Financials? Answers will be Appreciable. Thank You.
Give examples & explain the below mentioned activity. "Analyzing the documents provided by the client and thereby identifying the test cases to be tested for the application assigned (FA, AP and GL)"
How to refund for a customer who returns goods and wants a refund for $600 in R12 In above scenarios customer does not want Credit Memo or On- Account Credit, he wants refund check . and as we know we do not issue check from AR. How can we issue Check from AP and how offsetting is done for the same in R12
When we run a GL Reconciliation Report, we also see the void payments in that report. Even though i disable the option of Show Void payments, its appearing in the report.How do i proceed so that i dont see those void payments in the GL Reconciliation Report?
what is the steps to customization ?
Define the activities of the Configuration Manager (AP,GL,FA) in the team. Give examples
What are the types of setups in apps inventory module
