Retained earnings accounts do not have prior amount fields for comparison calculations

Additional information about retained earnings accounts:

Retained earnings are the accumulated earnings (profit/loss) of an entity since inception less dividend. Retained earnings are included in the Equity or Owners Equity portion of the balance sheet. It normally carries a credit balance.

The retained earnings account is a special type of equity account in General Ledger. This account type is reserved for the closing of profit/loss at the fiscal year end.

When direct entries are made to the retained earnings account, the fields listed above are updated. Reasons for entries made directly to the retained earnings account include:

• Paying partners for their percentage of the profits
• Partnership percentages change and need to reallocate the amounts
• S Corporations pay out the retained earnings
• An audit is conducted for two or more years prior and adjustments need to be made to Income or Expense

Correct your comparative balance sheet

Edit the retained earnings amount line.

1. In Financial Statement Designer, from the File menu, select Open.
2. Select your comparative balance sheet design and then click Open.
3. Double-click the retained earnings amount line.
4. Click Cell overrides.
5. Select the prior year column from the Current column list.
6. Select the Override column field check box.
7. Click Expression.
8. In the Name box, enter Prior Year Retained Earnings.
9. In the Expression box, enter the following expression:
   Note: The End Balance 1 Year Ago and the YTD Net 1 Year Ago are selected when the Field Type radial button is selected for Balance Fields. The remaining fields in the expression are selected when the radial button is selected for Monthly Fields.

   "End Balance 1 Year Ago" - "1 Year Ago Period 1" - "1 Year Ago Period 2" - "1 Year Ago Period 3" - "1 Year Ago Period 4" - "1 Year Ago Period 5" - "1 Year Ago Period 6" - "1 Year Ago Period 7"- "1 Year Ago Period 8" - "1 Year Ago Period 9" - "1 Year Ago Period 10" - "1 Year Ago Period 11" - "1 Year Ago Period 12"+ "YTD Net 1 Year Ago"

   Tips:

   • Double-click the fields in the Field list to add them to the expression.
   • Under Field type, select Balance fields to select the End Balance 1 Year Ago and YTD Net 1 Year Ago fields.
   • Under Field type, select Monthly fields to select the 1 Year Ago Period fields.
   • Click + or - to insert these operators between the expression fields as necessary.
10. Click OK, OK, Save, and Close.
11. From the File menu, select Save to save the changes to your financial statement design.

Tip: If you added a new amount instruction (Design, Insert, Amount) for an equity account, you may need to check the Reverse sign box, in the Amount Options - Instruction window.