Processing retained earnings for Global Ledger

The Process Retained Earnings action generates a retained earnings journal entry. Expense account type totals are added by the journal and a transaction is created to the Expense Summary system account. The offset is attributed to retained earnings. The revenue account type totals are added by the journal and a transaction is created to the Revenue Summary system account. The offset is attributed to retained earnings. Each entry has four lines per ledger processed. You must run this action before year-end close. Process Retained Earnings can be run multiple times.

Select Processing > Reporting Basis > Reporting Basis.
Select the basis that is enabled for processing retained earnings.
In the Basis Year Close section, select the year for which to process retained earnings.
Select Actions > Process Retained Earnings.
Specify this information:

Accounting Entity

Select an accounting entity to create the retained earnings journal for a single entity. If you select this field, do not select an Accounting Entity Group.

Accounting Entity Group

Select an accounting entity group to create the retained earnings journals for a group of entities. If you select this field, do not select an Accounting Entity.

Ledger

Select a ledger to create the retained earnings journal for a single ledger. If you select this field, do not select a Ledger Group.

Ledger Group

Select a ledger group to create the retained earnings journals for a group of ledgers. If you select this field, do not select a Ledger.
Click OK.
The retained earnings journals for all accounting entities and ledgers assigned to the reporting basis are generated.