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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Retained Earning Value...
Microsoft Dynamics GP (Archived)

Retained Earning Value is Zero (0) after Year End Close

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Posted on by Community Member Microsoft Employee

Hi Everyone,

 

Does anyone here encountered same issues we had for closing previous years (2011-2012) in GP.

Situation is below:

 

We did the closing of 2 fiscal years-2011 to 2012. 2011 is the initial year or 1st yr of operations.  All went well except for Financial Module-particularly the Retained Earnings balance beginning balance.

 

During the closing of 2011, in our final module-Financial module there was an error showed but we were not able to screen shot the error. We continued to do the closing process and thought that is only a temporary error so we proceed. However, it does not showed the entry -closing of Profit and Loss Account to Retained Earnings.

 

We printed the 2012 Trial balance to check whether the profit and loss accounts has no beginning balances-and yes, there was none-so it is correct,  but it was not transferred to the Retained earnings account-Retained earning account is zero resulting to a difference in the Beginning balance of 2012.

 

Based on forums, we might not done the consolidation of Analytical Accounting so we did this part in our closing of 2012 but when we were doing the closing process of 2012-there is a new error showed -this time, we were able to print screen the error.  We still proceed with the closing as we are expecting that the Retained earnings this time will be corrected.  Entries of Balance sheet and Profit and loss accounts were created but still showing a difference (The difference is the balances of 2011 and 2012 Retained earnings). That same difference is the difference when we print the 2013 trial balance: Retained earnings has no balance-still zero.

 

We are closing the 2013 soon, but we are afraid that same mistake we will encounter.

 

There is no error in Posting type as only the Retained Earnings is affected. All account balances are correct.

 

Thanks,

 

Rotchine

*This post is locked for comments

  • Heather Roggeveen Profile Picture
    Heather Roggeveen 9,144 on at
    RE: Retained Earning Value is Zero (0) after Year End Close

    Hi Rotchine

    I am with Richard on this one - you really do need to get to the cause.  Check out in the test database and if you aren't able to see what is going on, this may be one to talk to a local GP expert or your support partner to come in and help you resolve.

    Cheers

    Heather

  • babubaskaran@outlook.com Profile Picture
    babubaskaran@outloo... on at
    RE: Retained Earning Value is Zero (0) after Year End Close

    Hi Rotchine,

    Just to confirm on your account format and GL do you have more than one set of GL for company segment.  And your trail balance including only one set.  Is your trial balance report  has range of GL selected or no restriction given.  This is just a thought.

  • Richard Wheeler Profile Picture
    Richard Wheeler 75,730 on at
    RE: Retained Earning Value is Zero (0) after Year End Close

    Yes, the best course of action would be to make a test company and copy over company B to this test company. Then you can start by query the database for the year-end closing and first check to see if it was balanced and if it was, find the account where the retained earnings amount went. If it is not balanced then get into SQL maintenance ands check links. If you can restore from the last year where it did work properly that would be good because you should be able to spot what changed.

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Retained Earning Value is Zero (0) after Year End Close

    We have 2 companies, company A and B. Companies A and B have the same setup. Let's say company A where we had the proper closing and balanced entry. In company A, there is year 2010 to 2015. We are done with closing of 2010-2011 for company A. So, there's no problem with company A.

    Company B started with year 2011 until now. Bu t we just started closing company B lately. The unbalanced entry and missing retained earnings account started in year 2011 in company B.

    Our last option is to try in a test company the backup database of our live 2011 company database?

    Thanks,

    Rotchine

  • Richard Wheeler Profile Picture
    Richard Wheeler 75,730 on at
    RE: Retained Earning Value is Zero (0) after Year End Close

    So you were able to close through 2010 but starting with 2011 you cannot close properly? This going to need some serious work which cannot be done solely in GP. Do you have an IT staff you can work with who are familiar with SQL? It would be better to move this to a test environment. Is that possible? Your quickest resolution to this would be to open a support case with Microsoft. I would start by running some SQL maintenance routines(DBCC) to make sure your database tables are healthy, then running check links in GP , then back tracking all the end of year closing journal entries to see if they were balanced. If you find it was only the retained earnings account that was missing you will need to insert them using SQL. I do find it hard to believe that GP posted an unbalanced entry. I am wondering if the amount went to some other account. Digging through the transactions will be the only way to tell. Find the J/E corresponding to each year-end closing and then print a report and review.

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Retained Earning Value is Zero (0) after Year End Close

    Hi Richard,

    Bad thing is we weren't able to at least screenshot the error/warning message. We have our backup database prior to closing of year 2011 and 2012.

    This is a back log since before, we had prior 2010 closing but 2011 until now we have not do the closing in GP.

    Thanks,

    Rotchine

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Retained Earning Value is Zero (0) after Year End Close

    Hi Heather,

    Thanks for your reply. We have a back up of our database.

    This what we got as a result, all Posting accounts are correct as Profit and Loss accounts has no beginning balances. Balance Sheet accounts ending balances were brought forward as beginning balance of the following year. Retained Earnings is properly set up as Balance Sheet account.

    The Trial Balance  of the following year just showing a total difference in the beginning and ending, that difference amount exactly the same to the should be beginning balance of the Retained Earnings.

    Any idea?

    Thanks,

    Rotchine

  • Richard Wheeler Profile Picture
    Richard Wheeler 75,730 on at
    RE: Retained Earning Value is Zero (0) after Year End Close

    You mention that this error has occurred before and that you did receive error messages. Can you tell us what those error messages were? Do you close to divisional segments? Is it now too late to roll in your backup? The solution right now is to roll in your backup to just prior to closing and then correct this issue in a test environment but that would mean you would lose all the work you have done since that point in time. If you have not closed 2013 yet I would create  TEST company and copy this data into the TEST company. Also, why are you just now closing 2013? You must have 2014 and 2015 data which means you are closing a year that is more than 2 years old. How long have you been using GP? Have all your subsequent years been closed?

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Retained Earning Value is Zero (0) after Year End Close

    Hi Heather,

    Thanks for your reply. We have a back up of our database.

    This what we got as a result, all Posting accounts are correct as Profit and Loss accounts has no beginning balances. Balance Sheet accounts ending balances were brought forward as beginning balance of the following year. Retained Earnings is properly set up as Balance Sheet account.

    The Trial Balance  of the following year just showing a total difference in the beginning and ending, that difference amount exactly the same to the should be beginning balance of the Retained Earnings.

    Any idea?

    Thanks,

    Rotchine

  • Heather Roggeveen Profile Picture
    Heather Roggeveen 9,144 on at
    RE: Retained Earning Value is Zero (0) after Year End Close

    Hi

    I don't know why it wouldn't have worked - but one thing is for sure, this is probably something that should have been sorted the first time.

    Always back up your database before doing a year end close - and if it doesn't work properly, go back to the back up and try and trouble shoot.

    The only thing that jumps out at me is are you sure the Retained Earnings account is set up as Balance Sheet?

    Cheers

    Heather

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