Discussions
How do I allocate the system posted year-end entry to Retained Earnings to another Equity account?
From the Year-End Guide https://docs.oracle.com/en/cloud/saas/netsuite/ns-online-help/section_N1457773.html#Year-End-Closing
"The retained earnings account is a system account and cannot be deleted or substituted with another account. If you must adjust retained earnings or allocate the balance to other equity accounts, you can post a journal entry and it is reflected on the balance sheet."
I tried to post a journal entry but I am not able to select the system account "Retained Earnings". How do I reclassify the balance in the system generated Retained Earnings to another Equity account?