Before Yearend Closing Check – Retained Earnings Exception Report


It has been long time since I been an active online community member as before, as the day has only 24 hours and is really not enough for 45 customers with many GP issues, offline contribution, online community activities, my masters , family, and fun time!!!

However, I am doing my best to recover and follow up with all these! As a start, I wanted to share one thing to be included in your checks before closing your financial year, if you have several currencies linked to your profit and loss accounts, you will need to make sure that all these currencies are linked to the retained earnings account, so the multicurrency management module can work this with no issues.

If you forgot to do so, the system will generate the accounts along with the currencies not linked to the Retained Earnings in a report called “Retained Earnings Exception Report” and the report will be printed automatically.

Nothing to be done from your side at this point as the system will affect the retained earnings with the amounts, but you need to validate your profit/loss balance and make sure that the RE account affected correctly.

Quoting from the multicurrency management printable manual:

If you haven’t assigned all currency IDs to your retained earnings account using the
Select Account Currencies window, the Multicurrency Retained Earnings Exception
Report also will be printed. This report displays all retained earnings accounts for
which multicurrency transactions were closed, even though the currency for the
multicurrency amounts wasn’t assigned to the retained earnings account. If you
didn’t intend to close these accounts to the retained earnings account, you can use
this report to determine the amounts you’ll need for correcting these transactions.

Hope that this helps.


Mohammad R. Daoud MVP – MCT
+962 – 79 – 999 65 85


About Mohammad R. Daoud
Mohammad R. Daoud has been working as a Microsoft Dynamics GP consultant since 2004. His career path started with version 7.5; he studied every single tip of the application technicalities and did allot of successful implementations that includes functional consultations, analysis, and custom development projects. He holds a graduate degree in Computer Science and currently he is pursuing MBA degree in Accounting. In January 2007 he was nominated to the Microsoft Most Valuable Professional (MVP) certificate and was certified in April 2008 due to his online contributions in the Dynamics Community (Dynamics GP Newsgroups, Forums, User Groups and his blog: Worth to mention that he was also listed as one of the Microsoft Dynamics Top 100 Most Influential People in 2009 by DynamicsWorld. And more... • Demonstrated Passion for MS Products through participating in beta testing for some product versions, an effective member of Microsoft Connect. • Talented in securing strong high quality relationships with premier customers, partners and sales teams passionately and profitably. • Dedicated to meeting the expectations and requirements of internal and/or external customers • Problem Solver – Uses systematic approach to uncover true problem(s) and practical solution and can marshal resources to solve problem! • Proven record of effective account management, including Account Planning, Opportunity Management, and Business Management Excellence and working as part of a larger virtual team • Successful in delivering high quality technical engagements in the enterprise Dynamics GP implementations area according to customer requirements. • Dedicated, Committed, Self Motivated, Creative and highly focused with excellent communication, Negotiation, presentation, Active Listening and Objection Handling skills. • Experienced in Profitable researches and studies including white papers and technical presentations.

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