Hello:
Why would Intercompany Processing create a duplicate debit and credit to the Intercompany account and the Retained Earnings account for the same company in a journal entry?
Thanks!
John
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Hi Jo:
My colleague told me that it was a batch error or glitch.
Thanks, in any case, for chiming in!
John
Hi John:
One set of those is probably a BBF entry to roll it to the new year - if you want to post a screenshot I could let you know for sure!
Hi Jo:
It was a posting to a historical year. But, there were two debits to an Intercompany G/L account and two credit to the Retained Earnings account in the same 12/31/2017 journal entry.
Does this still sound like a reflection of posting to the historical year?
John
Hi John:
Were you posting to a historical year? When posting to a historical year, GP automatically makes the entries that roll the balance forward as a BBF if the accounts are Balance Sheet types and roll UP to retained earnings any Profit and Loss type accounts.
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