Retained Earnings - closing balance of prior year not matching with opening balance of current year
Summary
Retained Earnings - closing balance of prior year not matching with opening balance of current yearContent
Hi Accounting experts,
We are on Cloud 20B -- In our system i am finding a scenario like below
for Retained earnings account
ADJ-19 (last period of prior year) - Closing balance example: X
P01-20 (first period of current year) - Opening balance example: Y --- not same as X
In general above 2 numbers should be same and there should not be any discrepancy.
In our case for few account combinations related to retain earnings the balances are not matching. I could not find any journals
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