In general accounting, balance carry forward for all G/L accounts is a must. You can run FAGLGVTR multiple times specially if there are posted adjustments after FAGLGVTR.

REQUIREMENTS:

1. Posting Periods

»»»»  The appropriate posting periods must be open in the new fiscal year (period 01).

2. Accounts

»»»»  There are no prerequisites for balance sheet accounts.

»»»»  A P&L account type must be specified in the master record of all P&L accounts. This is a key that is use to define retained earnings account for each chart of accounts in the SAP system. 

»»»»  The retained earnings account must be set-up.

PROCEDURES:

Transaction codes: FAGLGVTR

Menu: Accounting → Financial Accounting → General Ledger → Periodic Processing → Closing Carrying Forward  → Balance Carry Forward (New).

ACTUAL RESULTS:

»»»»  Balance sheet accounts are carried forward to themselves; 

»»»»  Additional account assignments of balance sheet accounts are transferred;

»»»»  P&L accounts are carried forward to one or more retained earnings accounts. The balance of the P&L accounts is set to zero.

»»»»  P&L accounts additional account assignments are not transferred;

»»»»  Transaction currencies do not apply; Local currency is used instead.