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Revenue and expense amounts aren't transferred to Retained Earnings

Created on  | Last modified on 

Summary

In Sage 300, when Retained Earnings don’t include revenue and expense accounts, create a new year.

Cause

You haven't run G/L Periodic Processing, Create New Year.

Resolution

To resolve the issue, create a new year. 

  1. Make a full backup of the company database.
  2. Go to General Ledger, G/L Periodic Processing, Create New Year.
  3. Click Process.

You’ll see that now the Retained Earnings account includes the revenue and expense amounts.