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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / shareholder distributi...
Microsoft Dynamics GP (Archived)

shareholder distributions and retained earnings

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Posted on by Community Member

We have the Shareholder Distributions account set as a "Retained Earnings Account" Category.  However, last year, this account did not clear out to retained earnings at year end close.  Is this something that always has to be done manually or should we do something different?  Any other software I worked with cleared the distributions account to retained earnings automatically and year end close.

thanks so very much for your help!!!

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  • Verified answer
    MattPaulen Profile Picture
    MattPaulen 6,912 on at

    Whether an account closes out to the retained earnings account is not specified by Category.  It's based on the Posting Type.  If it's balance sheet, it will not roll in to the RE account and balances will be brought forward.  If it's profit & loss, it will close out to retained earnings.

  • Verified answer
    Community Member Profile Picture
    Community Member on at

    so I can still have it show under the category of retained earnings, I just need to make it a P&L account type?

    thanks for your help!

  • Verified answer
    MattPaulen Profile Picture
    MattPaulen 6,912 on at

    Yes, Posting Type is what matters when you do a YE close.  Typically you'd only want your actual Retained Earnings account(s) to have a category of Retained Earnings.  There were some issues on some earlier builds of Management Reporter where that would matter.  Not sure if that is still the case or not.

    You can follow the below article to fix the posting type since the year is already closed:

    support.microsoft.com/.../864913

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