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How to zero out nominal accounts' beginning balance on Trial Balance report?

edited Jun 2, 2025 2:33PM in Ask A Guru 10 comments

Hi Team, is there is way in Netsuite for Revenue balances to not carry forward to new Fiscal Year when running the trial balance for the current Fiscal Year? Basically my customer is expecting their PnL to be zero starting in new FY. I believe it is a standard behavior of the system to not zero out the opening balances of the income and expense accounts due to the automatic close feature in NetSuite where nominal accounts are not zeroed out and not posted to Retained Earnings because doing so would zero the past income statements and prevent them from being viewed. I

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