How To Fix FSBP_FISCAL_YEAR029 - Other retained earnings cannot be negative (fiscal year &1)

SAP Error Message - Details

• Message type: E = Error

• Message class: FSBP_FISCAL_YEAR - Fiscal Year Information

• Message number: 029

• Message text: Other retained earnings cannot be negative (fiscal year &1)

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FSBP_FISCAL_YEAR029 - Other retained earnings cannot be negative (fiscal year &1) ?

  The SAP error message FSBP_FISCAL_YEAR029 indicates that there is an issue with the retained earnings in the specified fiscal year. Specifically, it states that "Other retained earnings cannot be negative," which means that the system has detected a negative value for retained earnings that is not allowed according to the configuration or accounting principles being followed.
  Cause:
  
  Negative Retained Earnings: The primary cause of this error is that the retained earnings account has been calculated to a negative value, which is not permissible in the context of the financial statements.
  Incorrect Posting: There may have been incorrect postings or adjustments made in the financial records that led to a negative balance in the retained earnings account.
  Year-End Closing Issues: If the fiscal year has been closed improperly or if there are pending transactions that affect the retained earnings, this error may occur.
  Configuration Issues: The configuration settings in the SAP system regarding retained earnings accounts may not be set up correctly.
  
  Solution:
  
  Review Account Balances: Check the balance of the retained earnings account for the specified fiscal year. Ensure that all postings are correct and that there are no erroneous entries leading to a negative balance.
  Adjust Postings: If incorrect postings are found, make the necessary adjustments to correct the entries. This may involve reversing or adjusting journal entries that have impacted the retained earnings.
  Check Year-End Closing: Ensure that the fiscal year has been closed properly. If there are any pending transactions or adjustments, resolve them before closing the year.
  Consult Configuration: Review the configuration settings for retained earnings accounts in the SAP system. Ensure that the accounts are set up correctly and that the system is configured to handle retained earnings appropriately.
  Run Reports: Use financial reports to analyze the retained earnings and identify any discrepancies. Reports such as the balance sheet or trial balance can help in identifying issues.
  Seek Help from Finance Team: If you are unable to resolve the issue, consult with your finance or accounting team for further analysis and assistance.
  
  Related Information:
  
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message. SAP frequently updates its system with notes that may provide additional context or solutions.
  Documentation: Review SAP documentation related to financial accounting and retained earnings to understand the underlying principles and configurations.
  Transaction Codes: Familiarize yourself with relevant transaction codes such as FB03 (Display Document), FBL3N (G/L Account Line Items), and S_ALR_87012301 (Balance Sheet) to help in your investigation.
  
  By following these steps, you should be able to identify the cause of the error and implement a solution to resolve it.