How do I open and correct the "Retained Income out of balance" error?

  Answer:

Steps to follow:

1. Ensure that the Opening Balance for Retained Income in the relevant year matches the Closing Balance of the Retained Income for the prior year.
2. Confirm this in the Assign Mapping Numbers screen.
3. Go to the Caseware file |Click on ‘Account’ | ‘Assign Mappings’.

4. Ensure that the Opening Balance for Retained Income in the relevant year matches the Closing Balance of the Retained Income for the prior year.
5. Confirm this in the Assign Mapping Numbers screen.
6. Go to the Caseware file |Click on ‘Account’ | ‘Assign Mappings’.

7. If the Opening Balance does not match the closing balance, account for the difference by either:
   • Posting an adjusting journal entry
   • Importing the correct trial balance
8. If the Opening Balance does match the closing balance, please attempt to repair the file by performing a repair file
   • Tools | Repair File | Tick all the boxes | Select yes to back up the file

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