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What is the implication on RE when Financial Year Start Date is changed?
Hi There
I have the following scenerio:
I have an account that went live on 1st April 2023
The financial year for this account begins in Jul
That means when the closing balances from the legacy system were brought into Netsuite, as at 31 March 203, this was 9 months into the 2022/2023 financial year.
Now, this account has had a change in financial year start date.
I have adjusted the accounting period set up to reflect the new financial year structure (i.e. financial year beginning in April instead of Jul)
Are there any implications of doing this on the retained earnings figure in Netsuite?
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