Defining the Balance Sheet and Profit and Loss accounts

  1. Select Business Objects > Financial > Accounts.
  2. Click the Configuration tab.
  3. Specify this information:
    Profit and Loss/Base Account
    Select the balance sheet equity account to receive the profit and loss value.
    Retained Earnings - Profit and Loss
    Select the balance sheet account that presents retained earnings.
    This is to enable the correct transfer of net income from the Profit and Loss statement to the Retained Earnings account of the designated balance sheet that presents the result of the period. The opening balance of the Retained Earnings account is calculated for the remaining years of the configuration set after the transfer of the profit and loss to the balance sheet.
    Result of Profit and Loss
    Select the top account of the profit and loss that is attributable to the parent's equity holder.