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Attention: Customers with NetSuite Electronic Bank Payment (EBP) SuiteApp, version 2020.2 QA (ID 315896) must UPDATE (do NOT uninstall) their bundle to the Production version 2022.1 (ID 416781) by December 31, 2022. Note: If users fail to manually update the Electronic Bank Payments SuiteApp within the given time window, this version of the SuiteApp (ID: 315896) will be deprecated and the account will not be updated to Leading version (2022.1) of the Electronic Bank Payments SuiteApp. Please refer to the campaign email sent to impacted customers for more information.
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Why Retained Earnings is adjusted and does not roll with net income?
My retained earnings balance is changing at the beginning of the next period and therefore does not tie to my cumulative net income. My beginning retained earnings in the current year does not agree to my prior year ending retained earnings plus prior year net income. I suspect this is due to how we are closing out our CTA balance (zeroing out the CTA with a CTA Elimination entry each period to move it to the income statement, we have to do this because of how an entity was setup with the functional currency as the foreign currency when it