How to Configure Retained Earnings Roll Forward?

Retained Earnings Roll Forward functionality is optional. However, if you load month-to-date (MTD) data, this feature will be beneficial.

To enable this feature, perform the following steps: 

1. Navigate to Maintenance > Administration > Configuration Tasks.
   
2. Under Consolidation, click Retained Earnings Roll Forward to enable this functionality.
   
3. Once the Retained Earnings Roll Forward screen appears (shown below), select Yes for Enable.
   
   Selecting Yes for Enable displays additional options in the Consolidation Setup screen, allows you to setup the segment combination to which the financial entries will be posted. Selecting No for Enable hides the options in the Consolidation Setup screen.
   
   
4. Navigate to Consolidation to open the Consolidation Control Panel and click Consolidation Setup.
   
5. Select values for Account, Department, Product, Project, Customer, Customer2, and Interco using the Browse icon.
   
   
6. Select the Include in the Consolidation Process checkbox.
   
   This will result in retained earnings being automatically rolled forward to the next year when you run the Consolidation Process.
7. Click Save.
8. To disable the Retained Earnings Roll Forward, uncheck the checkbox (Include in the Consolidation Process). Save the Consolidation Setup, and rerun the Consolidation Process.

If you want to hide the Retained Earnings Roll Forward section after disabling it, navigate to Maintenance > Administration > Configuration Tasks > Consolidation and select No under Enable.

The segment members selected in the Retained Earnings Roll Forward section can be removed after disabling this feature. If required, the segment members can be deleted as soon as the Consolidation Process is rerun after removal from this section to clear the roll forward posting.

In Practice

1. Navigate to Consolidation to open the Consolidation Control Panel
2. Click Consolidation Setup.
   
   
3. On the Consolidation Setup page, under Retained Earnings Roll Forward, select the account where you want cumulative retained earnings automatically posted as shown in the example below.
   
   
4. Click Save.
5. Click Process under Entry Actions for the applicable periods.
   
   
6. Click Process.
   
   
7. Check the Detail View log (by clicking the link below) to ensure the process is completed successfully.
   
   
   You can create a dynamic report to see the value of current year retained earnings being moved to Cumulative Retained Earnings at the beginning of the next financial year.