How to calculate retained earnings with suiteql

AI generated answer (using internal Slack threads):

To calculate retained earnings with SuiteQL, you would need to query the relevant financial data from your NetSuite database. However, it's important to note that NetSuite automatically calculates and rolls forward retained earnings. Here's a general idea of how you might approach this: 1. Identify the relevant accounts: Retained earnings typically come from the net income of the business and any dividends paid out. These would be represented in your NetSuite accounts. 2. Query the data: Using SuiteQL, you would write a query to retrieve the financial data for these accounts. This might look something like:

sql
SELECT {account}, {amount}, {postingperiod}
FROM {transaction}
WHERE {account} IN ('Net Income', 'Dividends')

3. Calculate retained earnings: Retained earnings are typically calculated as the beginning retained earnings plus net income minus dividends. You would need to perform this calculation based on the data retrieved. Please note that this is a simplified example and the actual implementation may vary based on your specific accounting practices and NetSuite setup. Also, remember that NetSuite automatically calculates and carries over retained earnings, so you may not need to perform this calculation manually. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******