Audit adjustments

[Derek Atkins]

Terence <winenvine at gmail.com> writes:

> The AR ageing report showing AR inactive invoices is separate from the
> audit adjustment I am trying to do.  First, in the past, when I did a
> close book, I had to put the figures into retained earnings
> individually.  I did not know there was a Close Book feature
> now. Yesterday, I clicked on that function and selected Retained
> Earnings.  I did all the close book for me.  That was great as I had
> to do exactly that.  But then when I looked at the CoA, I found there
> are three retained earnings with different currencies.  In our CoA, we
> have multicurrencies current assets, e.g. Euro and AUD.  I cannot
> recall if those retained earnings - Euro, retained earning AUD were
> already there in the pull down menu when I chose Close Book.  Were
> they created automatically by Close Book execution?

Yes, the Close Books functionality creates individual-currency wrap up
accounts for retained earnings.

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-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available