Retained Earnings

Posted by RR on October 2, 2009, 11:37 am

Please log in for more thread options

I ran a Balance Standard report today and noticed the RE amount was
not correct. Then I ran a Detailed Balance report and the number was
correct. I also ran a Balance Comparison to last year report and that
number is correct.

So how is it possible the RE amount can be a different number on the
Balance Standard than the other balance reports? Anyone ever come
across this?

I am going to do a rebuild tonight. Suggestions are welcomed.

Posted by Laura on October 2, 2009, 9:42 pm

Please log in for more thread options

>I ran a Balance Standard report today and noticed the RE amount was

> not correct. Then I ran a Detailed Balance report and the number was

> correct. I also ran a Balance Comparison to last year report and that

> number is correct.

> So how is it possible the RE amount can be a different number on the

> Balance Standard than the other balance reports? Anyone ever come

> across this?

> I am going to do a rebuild tonight. Suggestions are welcomed.

Check that all reports are running on the same basis of cash or accrual.
Also check the date on each report.

Posted by RR on October 3, 2009, 11:13 am

Please log in for more thread options

> >I ran a Balance Standard report today and noticed the RE amount was

> > not correct. Then I ran a Detailed Balance report and the number was

> > correct. I also ran a Balance Comparison to last year report and that

> > number is correct.

> > So how is it possible the RE amount can be a different number on the

> > Balance Standard than the other balance reports? Anyone ever come

> > across this?

> > I am going to do a rebuild tonight. Suggestions are welcomed.

> Check that all reports are running on the same basis of cash or accrual.

> Also check the date on each report.

Posted by Laura on October 3, 2009, 1:24 pm

Please log in for more thread options

> >I ran a Balance Standard report today and noticed the RE amount was

> > not correct. Then I ran a Detailed Balance report and the number was

> > correct. I also ran a Balance Comparison to last year report and that

> > number is correct.

> > So how is it possible the RE amount can be a different number on the

> > Balance Standard than the other balance reports? Anyone ever come

> > across this?

> > I am going to do a rebuild tonight. Suggestions are welcomed.

> Check that all reports are running on the same basis of cash or accrual.

> Also check the date on each report.

Thanks Laura - well, I checked and both reports default at accural and
the dates were the same too. On January 1st, an adjustment was made to
add Retained Earnings into QB. On the day before, 12/31/08, the
Retained Earnings in both the Balance Standard Report and the Balance
Detail Report match perfectly. But immediately after the one line was
added and on the next day, the REs no longer match on the two reports.

I thought it is never supposed to change and remain the constant. Any
idea what entries from the current fiscal year might be affecting the
RE on the Balance Standard Report? Could there be a posting somewhere
that is considered a RE by the Standard report until the year is
closed out? But for the detailed report, it calculates it differently?

*****
What you are seeing is normal....

Retained Earnings gets updated with the new fiscal year and stays that way
for the entire year. That is assuming no one posts a transaction directly to
RE.

So the 12/31/08 balance reflects life-to-date Net Income through 12/31/07.
On 1/1/09 it will be updated to reflect life-to-date Net Income through
12/31/08 and will stay that same value until 1/1/2010 when it will get
update to reflect Net income for 2009.

Posted by RR on October 5, 2009, 8:22 am

Please log in for more thread options

> > >I ran a Balance Standard report today and noticed the RE amount was

> > > not correct. Then I ran a Detailed Balance report and the number was

> > > correct. I also ran a Balance Comparison to last year report and that

> > > number is correct.

> > > So how is it possible the RE amount can be a different number on the

> > > Balance Standard than the other balance reports? Anyone ever come

> > > across this?

> > > I am going to do a rebuild tonight. Suggestions are welcomed.

> > Check that all reports are running on the same basis of cash or accrual=

> > Also check the date on each report.

> Thanks Laura - well, I checked and both reports default at accural and

> the dates were the same too. On January 1st, an adjustment was made to

> add Retained Earnings into QB. On the day before, 12/31/08, the

> Retained Earnings in both the Balance Standard Report and the Balance

> Detail Report match perfectly. But immediately after the one line was

> added and on the next day, the REs no longer match on the two reports.

> I thought it is never supposed to change and remain the constant. Any

> idea what entries from the current fiscal year might be affecting the

> RE on the Balance Standard Report? Could there be a posting somewhere

> that is considered a RE by the Standard report until the year is

> closed out? But for the detailed report, it calculates it differently?

> *****

> What you are seeing is normal....

> Retained Earnings gets updated with the new fiscal year and stays that wa=

> for the entire year. That is assuming no one posts a transaction directly=

> RE.

> So the 12/31/08 balance reflects life-to-date Net Income through 12/31/07=

> On 1/1/09 it will be updated to reflect life-to-date Net Income through

> 12/31/08 and will stay that same value until 1/1/2010 when it will get

> update to reflect Net income for 2009.

Hi there - I was seeing two different RE numbers between and standard
and detail report. I ran a rebuild over the weekend and now the RE
amounts on both reports match and are what I entered 1/1/08. So we are
good to go. Thanks for your help.