1100-B39876-140-99630999-0000-1-0000

1100-B39876-021-51130010-3300-0-0000
15249
T-B39876-140-BUD71110-T-F-T
T-B39876-140-BUD71110-T-F-T
Aircraft - Airframe & Engine / Others
3300
-B39876-140-71110500-0000-1-0000
T-B39876-140-BUD71110-T-F-T
Please refer to note: General Ledger Closing Journals (Income Statement and Bala
nce Sheet) Setup & Usage White Paper (Doc ID 151312.1)
As Octavio indicated, if there is activity posted to a prior year, the roll forw
ard of the net revenue and expense will go to the the retained earnings account.

How does Retained Earnings get calculated in Oracle General Ledger?

a) General Ledger automatically posts the net balance of all Revenue and Exp
ense accounts from the prior year to the Retained Earnings Account (REA) when yo
u open the first period of a fiscal year.
GL will automatically update the Retained Earnings Accounts balances as need
ed, when you enter and post new journal entries to the prior year.

b) If you have multiple companies or balancing entities within a set of book

s or ledger, General Ledger should automatically create one Retained Earnings Ac
count combination (when dynamic insertion enabled) for each company or balancing
entity and secondary tracking segment (depending on the version and setup), to
"transfer" the balances of the corresponding income statement accounts.

c) This "transfer" occurs directly and automatically with no journaling.

If an auditable journal entry is needed at year end you can submit the Creat
e Income Statements Closing Journals program.
See General Ledger User Guide: Year-End Close Checklist.
General Ledger can (since release 11.5.2) generate 2 types of journals:

Income Statement Closing Journals: This journal closes all of the income
statement accounts against the retained earnings account.

Balance Sheet Closing Journals: This journal posts all asset and liabili
ty balances to a closing account that you specify.

See Document 151312.1 for more information.

You may see also R12: Scripts to Check Year-End Carry Forward of Actual Bala
nces and Retained Earnings (Doc ID 1365597.1).