Versions
AM12 for SQL, Express, and LAN
AM11 for SQL and Express
AM10 for SQL, Express, and LAN
AM9 for LAN
Modules
All modules
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.