Sage 100

Sage 100 2016 client complains GL Retained Earnings Beginning balance for one year is not the same as Ending balance for the previous year. Anyone wrestled with the peculiar was Sage 100 deals with Retained Earnings?

The entire RE posting (crediting expenses, debiting sales, balance to RE) happens behind the scenes and they will never see it.

How to correct the Ending/Beginning balance problem? Their accountant doesn't like it.

But it's not supposed to balance. The RE amount on Dec 31 has the net income applied to it and ends up with the BB balance on Jan 1. What does the accountant think happened to all of the sales and expense balances?????

I agree that the Account Inquiry window may show different ending and beginning because that's not the design, but it's possible that the 'beginning' balance of the next year may not match the balance sheet produced from the prior year. When that happens, someone probably changed the fiscal year backwards and did a GL entry and then didn't re-close the year, which should recalculate the retained earnings number. This was a problem in v3.71 and prior but perhaps in framework it doesn't work that way.

I think the term ""accountant"" is being used very loosely with this client of yours, @LeeGraham. :-) There is a Current Year Retained Earnings account that is added to the Retained Earnings account when you close the year in GL. Is that the issue? Or, are you saying the totals of these two accounts do not match the beginning balance of RE on Jan 1 of the following year? Because if it is the latter, then I would tell them to re-open the prior year and close it again as @RobertWhite suggested.

You no longer need to close in 4.x

I am going to chime in on this one as well. When books were kept manually there was an entry that would be done that moves the net income (all of the revenue and expenses) to retained earnings. Sage does not reflect this in a journal entry. The reconciliation for this account should be year end retained earnings plus net income will be next years beginning retained earnings. Just as all income and expense accounts end with a balance and the next year starts with zeros. All those dollars go to retained earnings.

Retained Earnings balances do not match the year-to-year changes on the balance sheet reports.

Did you try the recalculate GL under GL Utilities?

If @WayneSchulz's idea doesn't fix it, look for BB source journals.