How to trace any manual Journal Entries posted to Retained Earnings G/L Account when Retained Earnings G/L Account is not even listed in General Ledger for the selected Subsidiary?
Solution
Upon checking, there is no other workaround to pull the values of the retained earnings via saved search. Retained Earnings Account will only be “populated” based on your income (or loss) from the previous period. The transfer of the amount of your income (or loss) last period to the retained earnings of the current period is happening on the backend, thus it will not show any transaction in the report or in the retained earnings register.
Retained Earnings accounts are not usually used in transactions but are most often system-computed. In Transactions Saved Search, only those balances that are directly posted to these accounts through manual journal entries are expected to be reflected.
According to SuiteAnswers ID: 7666 | Year-End Closing, NetSuite does not post the balance to retained earnings because doing so would zero the past income statements and prevent them from being viewed.
Therefore, this functionality still falls in the mentioned Enhancement 460818 : Reports/Saved Search > Have the ability to fetch the value of the Retained Earnings and Cumulative Translation Adjustment Accounts to match the Consolidated Values.”
I can retain the Default Trial Balance Debit/Credit Column to at least show the correct Closing Retained Earnings amount as per Default Trial Balance. Should I just inform User ignore the Opening Balance for Retained Earnings and read the Debit/Credit Column instead for Retained Earnings due to limitation of Custom Opening Closing Trial Balance?
Should I just explain to User it is not possible to obtain Opening, Debit and Credit Balances for Retained Earnings since there is no actual postings to Retained Earnings account?
We follow the alternative solution provided from Case 5454989 and get the correct Opening and Closing Retained Earnings result.
Alternate Solution:
1. Open Custom Trial Balance and click Customize
2. Remove original Opening Balance and Closing Balance columns
3. Add Trial Balance: Amount (Gross)/Amount(Debit/Credit) twice
4. Click the 1st Trial Balance: Amount (Gross)/Amount(Debit/Credit)
> Set Column Label: Opening Balance
> Add Grand Total = T
> Alternate Period Range Type = Relative to report date
> Cumulative Value = T
> Alternate Period Range = Last Period
5. Click the 2nd Trial Balance: Amount(Debit/Credit)
> Set Column Label: Closing Balance
> Add Grand Total = T
> Alternate Period Range Type = Relative to report date
> Cumulative Value = T
> Alternate Period Range = This Period
6. Click Save and Run