Question

How does system address having 2 Retained Earnings? I.e. AOCI

  • 10 February 2021
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  • How does system address having 2 Retained Earnings? I.e. AOCI

1 reply

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Hi @TannerMacDonald14 

One can set one GL account as default ‘Retained earnings’ on the GL preferences screen (GL102000). This account is used when the Year-End process takes place. Net Income of an Accounting year is moved to Retained earnings account on Year-end process completion( closure of last financial period of Financial year).

However, users can have additional accounts created manually and can create Journal transactions to keep any specific type of earnings. 

Here is relevant documentation link:

https://help-2020r2.acumatica.com/(W(8))/Help?ScreenId=ShowWiki&pageid=d7522b11-d12d-48a2-8e30-e29c900108b0

Hope this helps.

Regards,

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