Purpose of Field 10700 'Income Stmt. Bal. Acc.' in Spanish G/L Account table.


We have an international multi country/database client.

They are trying to close their Year End in the Spain database, which is the Spanish version.

They ran the Close Income Statement, but are unable to post the created journal because some of the relevant G/L accounts do not have the “Income Stmt. Bal. Acc.” field filled in.

This is field in Table 15 ‘G/L Account’ is a Spanish localisation:

Field No. Field Name Data Type Length
10700 Income Stmt. Bal. Acc. Code 20

As this is a feature local to Spain, we have not encountered this before.

Please could you let us know the purpose of the field, so they may populate it?

I would have posted to the Spanish forum, but I don’t speak Spanish [:(] and wouldn’t want to offend by posting there in English if this was not the correct thing to do.

If I have done the wrong thing, please could one of the moderators move the post, please?

Many thanks in advance!

Portuguese and Spanish market has several analogous in terms of accounting. I will refer to Portuguese local law but it’s similar to Spanish law.

When you closed a fiscal year in W1 database you only have a single Retained Earnings Acc. Account. In Portugal and Spanish you have multiple accounts to closed year. Those G/L accounts will balance with other accounts. It’s a workflow of balancing accounts until reach a group of accounts.
In that field you must define here balance will go when you closed year. There several rules. I advise you to reach a local account.