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How to Zero out Retained Earnings for a new company take over

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Summary: Current Entity has been bought over- by a new Company

Current system is wanting to roll retained earnings. The prior period retained earnings should be $0. Additionally, 303100 account got reset through the new company and is around off. How can we get retain earning to be zero in FCCS under these circumstances?


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Current system is wanting to roll retained earnings. The prior period retained earnings should be $0. Additionally, 303100 account got reset through the new company and is around 45M off. On the Balance Sheet Detail Report, “FCCS_Balance Balance” – it’s $595,000,000. That is the system forcing the balance sheet to balance.

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