Can we roll over retained earning that is add net income to retained earning and set the net income to 0 on some arbitrary date?

AI generated answer (using internal Slack threads):

Based on the conversations, it appears that the process of rolling over retained earnings (i.e., adding net income to retained earnings and setting the net income to zero) is not a straightforward process in NetSuite, especially when dealing with multiple currencies and subsidiaries. Retained Earnings is a system-calculated account in NetSuite, which means it derives its value from the net income. Therefore, it's not typically recommended to manually book entries to this account. However, in some cases, such as when it's mandated by law to move from retained earnings to a historicized account, manual journal entries may be made. However, this can lead to complications, especially when dealing with multiple currencies. For example, booking the journal to move from retained earnings to the historic account can change the consolidated foreign exchange rate of the period, resulting in a non-zero value at a consolidated level. In another scenario, when the fiscal year does not align with the calendar year, NetSuite may use the calendar year end instead of the fiscal year end for retained earnings, which can lead to discrepancies. In summary, while it may be technically possible to roll over retained earnings on some arbitrary date, it can lead to complications and is not typically recommended due to the system-calculated nature of the Retained Earnings account in NetSuite. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******

what if we use multi calendar?