Ideas for Acumatica

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Insure that Current Earnings to Retained Earnings system generated entries at Y/E are only generated to 'allowed' Retained Earnings SubAccounts.

Presently Current Earning are generated  (based on net of P&L postings) at the SubAccount Level.  At Y/E when Current Earnings flow to Retained Earnings (for Period 1 of next Fiscal Year )  the entries are also generated at the SubAccount level even when the SubAccount entries generated should not be allowed  due to  GL Restriction settings in place for the Retained Earnings Account..  The end-users then have to enter a set of 'reversing' entries to allocate the incorrect subaccount entries to the correct Retained Earnings Subaccount. 

  • Guest
  • Feb 5 2016
  • Future consideration
  • Attach files
  • Rick Baccari commented
    11 Jan, 2019 08:17pm

    The retained earnings account should respect to "use default sub" setting.  Most companies put all Balance Sheet accounts to one subaccount.  Having separate retained earnings by subaccount is really useless information for 99% of users.

    Net income for period should also respect the "use default sub.

  • Guest commented
    4 Jul, 2017 06:35pm

    Hi Olga:
    Yes...in the situation where the company has only one Retained Earnings Account/SubAccount this solution would work well.
    Thank you,
    Nonny
    Nonny Beckerman \ Senior Consultant \ EVRON Computer Systems Corp.\ 5 Denison St., Markham ON, L3R 1B5
    nbeckerman@evron.com \Phone: 905-477-0444 x215 \ Fax: 905-477-2814 \ Skype: nonnybeckerman
    [EvronLogo-sig]
    www.evron.com

  • Olga Anisimovich (Product Manager Financials Team) commented
    8 Jun, 2017 03:51pm

    We are considering adding an option to accumulate net and retained earnings to one dedicated subaccount. Hope this would solve the issue.