How To Fix GZ455 - Retained earnings item on the balance sheet not specified

SAP Error Message - Details

• Message type: E = Error

• Message class: GZ - Message class for FI-LC

• Message number: 455

• Message text: Retained earnings item on the balance sheet not specified

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message GZ455 - Retained earnings item on the balance sheet not specified ?

  The SAP error message GZ455, which states "Retained earnings item on the balance sheet not specified," typically occurs during the closing process in financial accounting when the system cannot find a specified retained earnings account for the balance sheet. This can happen for various reasons, including configuration issues or missing settings in the financial accounting module.
  Cause:
  
  Missing Configuration: The retained earnings account may not be properly configured in the system.
  Incorrect Account Assignment: The account assigned for retained earnings may not be valid or may not exist in the chart of accounts.
  Missing Settings in the Fiscal Year Variant: The fiscal year variant may not have been set up correctly to include the retained earnings account.
  Incorrect Posting Period: The posting period may not be open for the entries related to retained earnings.
  
  Solution:
  
  
  Check Configuration:
  
  Go to the configuration settings in SAP (Transaction Code: SPRO).
  Navigate to Financial Accounting (New) > General Ledger Accounting (New) > Closing > Carry Forward Balances.
  Ensure that the retained earnings account is specified correctly in the settings.
  
  
  
  Verify Account Assignment:
  
  Check the chart of accounts to ensure that the retained earnings account exists and is correctly assigned.
  Use Transaction Code: FS00 to view the account details.
  
  
  
  Review Fiscal Year Variant:
  
  Ensure that the fiscal year variant is correctly set up to include the retained earnings account.
  Check the settings under Financial Accounting > Financial Accounting Global Settings > Fiscal Year.
  
  
  
  Open Posting Period:
  
  Ensure that the posting period for the retained earnings account is open. You can check this in the transaction code OB52.
  
  
  
  Run the Closing Program:
  
  After making the necessary adjustments, run the closing program again (Transaction Code: F.01 or F.16) to see if the error persists.
  
  
  
  Related Information:
  
  Documentation: Refer to SAP Help documentation for detailed steps on configuring retained earnings accounts.
  SAP Notes: Check for any relevant SAP Notes that may address specific issues related to error GZ455.
  Testing: After making changes, it is advisable to test the closing process in a development or test environment before applying changes in production.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a financial consultant who specializes in SAP Financial Accounting.