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Question regarding converted GL balances and Annual Close

ksgarza

Member
I have a client who is doing a new install of E1. They are converting 3 years of historical financial data. It's been a while since I've had to deal with multiple years of data, so I'm asking for some help with this one.

The current plan is to bring over a year at a time, run the Annual Close and repeat for each year. What is the best way to handle this as far as retained earnings is concerned? They already have retained earnings balances for these years, so we can't have new entries being created.

Any help will be most appreciated!
 

Alex Blasenheim

Well Known Member
You need to identify the retained earnings account(s) and not include it (or them) in the conversion. Run the annual close after posting the oldest year. If everything ties then go on to the next year. If everything does not reconcile then you need to analyze where the issue or issues are.
 
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