Are there transactions for Retained Earnings?

Kinetic ERP
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1

I guess this answers the title question with a NO, but I have some other questions.

It’s been literally 20 years since I took accounting, so be kind.

First, a tangent about what works like I expect. Here is a random account. Ref picture below.

  • In the spreadsheet, I sum up all GLJrnDtl transactions for FY 2024, period 12 (that was June 2024 for us)
  • In the BAQ, I am looking at GLPeriodBal
  • The numbers match. Hooray. (Green boxes)

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I tried to do the same thing with our Retained Earnings account. But I have almost no GLJrnDtl activity for this.

Period balances:

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ALL of the detail in my test database (where is 2018, 2019, 2021, etc.?):

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So my questions are

  1. What is the process that updates these balances?
  2. How does it know what account to use for Retained Earnings?
  3. And I guess this answers my main question, which is, is there really no historical record for this?!

And if so, question #4 is: Is this documented anywhere?

2

Bump for this question.

Also, never ask a question on a Friday…

1 Like
3

According to this KB it depends on some settings.

https://epiccare.epicor.com/epiccare?id=epiccare_kb_article&table=kb_knowledge&sys_id=6332ae86db9f0cd0d426576ed3961985&recordUrl=%2Fkb_view.do%3Fsys_kb_id%3D6332ae86db9f0cd0d426576ed3961985

1 Like
4

Thank you; I had not seen that KB. It’s something lol.

So I think the answers to my questions are:

  1. Transfer Opening Balances to Next Year is the process
    a. (Unless you opt for the manual journal entry option in your Book?)
  2. Book [Maintenance] is where the account is set
  3. No transactions created
    a. (Again, unless you set up the Book for manual journal entry)
  4. And you provided the (probably only) documentation. (There’s a little in the help on Book Maintenance about “Put the account here” - now that I know to look there.)

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Edited 2a and 3a for clarity - we use “Manually update future balances” already, and that does no transactions. But obviously “Update by manual journal only” (the 3rd option) would create a trail.

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