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Dynamics 365 Community / Forums / Microsoft Dynamics AX (Archived) / Year Retained earnings...
Microsoft Dynamics AX (Archived)

Year Retained earnings to appear in Balance Sheet

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Posted on by Community Member

Dear All,

I am very new to Dynamics AX 2012. This is for the first year we are preparing financial statement in Dynamics AX 2012. I checked the Total Assets and Total Liabilities as of 31.12.2015 in the balance sheet, those are not matching. The difference amount is exactly the net income in income statement. What is the steps to make this net income to appear in retained earnings GL in the balance sheet?

Appreciate your quick response.

Thanks & Regards,

Inshad

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  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Hello inshad,

    If you open the default row definitions that ship with Management Reporter you can find an example how this can be realized.

    I attached you an example that includes all income Statement accounts in a separate line of the Balance sheet.

    4251.BS1.png

    You can also link an income statement report result to a balance sheet report.

    How this can be realized is described here: https://blogs.msdn.microsoft.com/dynamics_financial_reporting/2013/10/11/linking-one-report-to-another-in-management-reporter/

    Hope it helps,

    Ludwig

  • Community Member Profile Picture
    Community Member on at

    Hi Ludwig,

    Thanks for the reply. I( actually need the "Net Income" in Income Statement to appear in Balance Sheet under the Equity as retained earning. I believe, something wrong in the accounts mapping. This is the first year we implemented the Dynamics AX 2012. Unfortunately, we do not have a good IT support to clear our queries.

    Appreciate if you could provide me a clear answer.

    Thanks again.

    Inshad

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Hi Inshad,

    OK let's try to explain it a bit differently. The net income is the "residual value" that remains once you add up all your P&L accounts. That is, you take sales, deduct the cost of sales, Marketing, admin costs and so on.

    A very easy and simple way to calculate the net income is adding up all P&L accounts, can we agree on that?

    If so, you can simply include the net income into your balance sheet by adding a line in the Management Rpw designer that summarizes all P&L accounts.

    This is what I illustrated in the screenprint above.

    In addition to adding a line that summarizes all P&L accounts, Management Reporter offers you alternative options how the net income can be calculated and included in the company's Balance sheet. One alternative is Setting up a P&L Report and linking the net income that is calculated in the P&L to the respective line in the balance sheet. This second - alternative - approach is described via the link I attached.

    Please have a look again at the screenprints and especially the Microsoft blog on Management Reporter (blogs.msdn.microsoft.com/dynamics_financial_reporting) and I believe you will manage Setting up your P&L and Balance Sheet reports correctly.

    All the best,

    Ludwig

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