why retained earning account register show no data...
# ask-stanley-ai
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why retained earning account register show no data despite the closing journal entries are made and poste
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AI generated answer (using internal Slack threads):
****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ****** The Retained Earnings account in NetSuite is a system-generated account that is calculated dynamically when you run financial reports. It is not a posting account, meaning it does not contain transaction lines that you can view or search. Instead, it is a calculated account that derives its value from the net income of the company. If your Retained Earnings account register is showing no data despite the closing journal entries being made and posted, it could be due to the fact that the Retained Earnings account is not designed to hold transaction data. Instead, it is updated dynamically based on the net income of the company. In some cases, you might see multiple lines for Retained Earnings in your trial balance if you have segmented your trial balance by a classification (e.g., department, location, class). This is because NetSuite tries to calculate the Retained Earnings for each of your segments, which can result in multiple lines for Retained Earnings. If you need to move the current year's Retained Earnings to a "last year Retained Earnings" account, you might need to manually book a journal entry from Retained Earnings to the historic account. However, this could affect the consolidated FX rate of the period and result in a non-zero value at a consolidated level. Please note that manual adjustments to the Retained Earnings account can have unintended consequences and should be done with caution. Always consult with a NetSuite professional or accountant before making such changes.
Slack thread 1: here (available only if the original thread was posted in the last 90 days)
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Slack thread 2: here (available only if the original thread was posted in the last 90 days)
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Slack thread 3: here (available only if the original thread was posted in the last 90 days)
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