How To Fix GCS005 - Retained earnings in B/S not equal to retained earnings in I/S

GCS005 - Overview

• Message type: E = Error

• Message class: GCS - SAP Consolidation: Validations

• Message number: 005

• Message text: Retained earnings in B/S not equal to retained earnings in I/S

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

Unfortunately, there isn't any extra information in this error notice.

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Smart SAP Assistant

• What is the cause and solution for SAP error message GCS005 - Retained earnings in B/S not equal to retained earnings in I/S ?

  The SAP error message GCS005 indicates a discrepancy between the retained earnings reported in the Balance Sheet (B/S) and those reported in the Income Statement (I/S). This error typically arises during the closing process of a financial period, particularly when the financial statements are being generated.
  
  Cause:
  
  Data Entry Errors: Incorrect entries in the financial records can lead to mismatches between the retained earnings in the Balance Sheet and the Income Statement.
  Incorrect Configuration: Issues with the configuration of the financial statements or the chart of accounts can cause discrepancies.
  Unposted Transactions: Transactions that have not been posted or have been posted incorrectly can lead to differences in retained earnings.
  Manual Adjustments: Manual adjustments made to retained earnings without corresponding adjustments in the Income Statement can cause this error.
  Closing Procedures: If the closing procedures are not followed correctly, it can lead to inconsistencies in the financial statements.
  
  
  Solution:
  
  Reconcile Accounts: Check the retained earnings account in the