retained earning calculation during data migration — Cloud Customer Connect
You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register
Get Started with Redwood: Oracle Cloud SCM and Purchasing

retained earning calculation during data migration

in General Ledger & Intercompany 1 comment

Summary:

Hi

We are moving from legacy to Oracle and want to maintain balances for the last 2 years in Oracle.

Suppose YTD for retained earnings for Dec-23 is 1000..

The retained earnings calculation for the P&L sweep-in for the transactions in 2023 is $500.

The opening balance on 1-Jan-2024 will be 1000+500.

During data migration,

The Retained earning balance is 1000 in Dec TB as expected.

Should the retained earning balance for Jan TB be 1000 only, as 500 will be calculated by Oracle as soon as we open the Jan-24 period?

Or the retained earning for Jan-24 TB should be 0 as Oracle will automatically pick the YTD of 1000 from Dec TB and the sweep calculation of 500?

Tagged:

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!