1120 income does not pass to balance sheet (retained earnings remain the same from past year)

[ddblack]

Basic question but the community links all seem to be broken so I can't find articles or previous messages after searching.  

Doing an 1120 and fill in income and most balance sheet items but nothing passes from income to balance sheet in retained earnings.  There is undoubtedly some little button or something that I've missed but not sure where to start looking for that.  

Any help appreciated.

[sjrcpa]

Did you perhaps Override Retained Earnings in your Balance Sheet input?

[ddblack]

No.  No entry in retained earnings (either appropriated or unappropriated).  It should fill in the current retained earnings automatically using last year's balance and then adding this years income to it.  But I'm getting nothing, in forms it just copies the same retained earnings as last year into the position.  But I didn't enter in details any retained earnings data. 

[theodore4]

Ddblack: I am/was having same issue. Sjrcpa’s suggestion helps… but your problem may be same as what I encountered. I didn’t “override” ending total retained earnings on the Balance Sheet input page (screen 29) either… BUT, for some reason, the program had entered the previous year’s total retained earnings in the “Ending” column (essentially “overriding” it without telling me it was being “overridden”). I don’t know why this happened… but I simply deleted the amount from the “ending” box, leaving it blank, and now Sched L shows the correct “ending” retained earnings. HOWEVER, this still doesn’t answer why the program entered its own value in the “overriding” box on the Balance Input screen. If anyone knows how to fix this, it would certainly be helpful. Maybe changing an allocation in the Trial Balance when importing??? Having to check for and enter “overriding” puts me back at doing it the old-fashioned way with pencil and calculator IF I can’t set up the program to import the data correctly… Don’t know if this has helped with your issue ddblack, but thank you for raising this issue.  I certainly welcome any additional suggestions as a low-level lacerter looking to understand how to de-bug my set-up, so I’m not trading time from doing this by hand, only to spend all my time checking to make sure lacerte isn’t unwittingly spitting out the wrong numbers. Thanks!!!

[sjrcpa]

It probably does have something to do with the account coding for trial balance import. I don't do the coding or importing so cannot give further guidance.

[theodore4]

Any account coding help welcome. Thank you ddblack for raising issue. And BIG thanks again to you sjrcpa for helping me: 1) identify source of my immediate issue; and 2) pointing me in the right direction for permanent solution. Big big cheers! Thanks!!!