General Ledger - EBS (MOSC)

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How to correct Retained Earning Carryforward balance

edited Jan 11, 2018 7:06AM in General Ledger - EBS (MOSC) 2 commentsAnswered

Hi,

Natural Account (12012004) is holding accumulated depreciation transactions.  This natural account  was wrongly define an Expense type natural Account. 

Because of this system generated Profit & Loss balance was not showing the correct balances of Profit. subsequently it shows the wrong balance in retained earning balance at the beginning of the new financial year.

Even after making the change in type of account to Asset through flexflex field definition window, system is not showing the effect in retained earning balance.

What is the way to correct the balance in retain earning? Expert guidance is highly appreciated. Thanking you

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