Versions

AM12 for SQL and Express
AM11 for SQL and Express
AM10 for SQL, Express, and LAN
AM9 for SQL, Express, and LAN
AM8 for LAN

Module

GL

Question

Why do I encounter the message, “xxx.xx amount has been transferred to Retained Earnings” when I perform Transfer Data to GL or Period-End Closing?

Answer

The message indicates that expense or revenue transactions recorded during the current period were assigned prior-year posting dates. In keeping with proper accounting procedures, these transactions are transferred to the Retained Earnings GL Account ID as adjusting entries.