[GNC] Retained Earnings Loss account appears after closing out year

[Christopher Lam]

In the balance sheet, Retained Earnings is calculated as the difference 
of non-void balances between the selected income and expense accounts as 
of the balance-sheet date.

There must be an errant transaction associated with the pre-payment 
somewhere in your books?

C

On 11/1/19 5:49 am, bwiper79 wrote:
> Hello!
>
> I'm hoping somebody may have run into this and can help me out. The balance
> sheet is balanced as per auditor and year end adjusting entries, but for
> some reason I've got $5.24 stuck in retained earnings losses after closing
> out the year to RE.
>
> The Total Equity value is correct, but only with the $5.24 loss displayed.
>
> I found a the invoice that was $5.24 + $0.79 tax.
>
> My fiscal year starts 10/1/2017 but when I first started using Gnucash, I
> entered the date of a pre-incorporation/start of year date as 4/1/2017.
>
> I deleted the payment transaction, which for some reason I marked as paid
> 6/8/2018 but it was posted as a pre-payment and not applied to the invoice.
>
> I then deleted the pre-payment via journal, and I think this may be where I
> went wrong, then went in a paid the invoice using the AP module.
>
> The tax portion seems to be fine, but I'm left with this $5.24, which I
> think is associated with the pre-payment I deleted via journal instead of AP
> module.
>
> Any ideas how I can fix this to make my statement look pretty, not
> displaying the retained losses automatic sub-total by bringing it to $0?
>
> Thanks,
> Ben
>
>
>
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