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Accounting for new consolidated group after acquisition-closing out pre-acquisition NI into RE

edited Jun 2, 2025 2:24PM in Accounting / ERP 2 comments

If you're adding a new parent company into a consolidated group, and accounting for the new net income, "post acquisition", how do you close "pre-acquisition" Net Income into Retained Earnings in NetSuite?...new, post earnings period starts "mid-month", as opposed to clean cutoff at month end or calendar year-end.

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