Validation of Retained Earnings Transfer Process for Portugal STAT Ledger

Summary:

We are working on "Create SAFT-PT Audit File for Portugal"

We have configured Portugal Statutory Ledger and Data Conversion Level - Journals

As part of Business requirement

Business Requirement

Portugal statutory reporting requires year-end and beginning-of-year retained earnings transfers as follows:

Year-End / Adjustment Period

Transfer balances from:

• 6 Series Accounts (Expenses)
• 7 Series Accounts (Revenues)
• 8 Series Accounts

To:

• Account 811 – Profit Before Tax
• Account Type Owner's Equity

Beginning of New Financial Year

Transfer balances from:

• Account 811 – Profit Before Tax

To:

• Account 560000 – Unrestricted Retained Earnings
• Account Type Owner's Equity (Retained Earnings)

Content (please ensure you mask any confidential information):

Version (include the version you are using, if applicable):