Retained earnings figure changed

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  • Updated 9 months ago

I have problem with the Balance Sheet figures. The bank and retained earnings figures for prior years suddenly changed even though I have locked the period. The bank figure now does not match the bank reconciliation statement. I had the exactly same problem last year. From my memory, I need to do the "Rebuild data" and it fixed the problem. But it takes long time, maybe 8 hours in total. Is there any way faster to fix the problem? I am using Reckon Accounts Hosted.

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Deborah Soelaiman

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Posted 9 months ago

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Hi Deborah

The retained earnings will update automatically on 1st July based on the net income as at the day before (30th June) each year.
Bank account balance(s) variations are usually the result of additional transactions.  Can you identify what the discrepancy is (made up of) ?