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Accounting module Reporting
odoo displays in the balance sheet other expenses for the current period to previous years unallocated earnings which cannot then be journalled to retained earnings. How can i fix this?
Every thing else in the P&L goes to current year unallocated earnings and can be journaled to Retained earnings leaving behind a balance in Previous Years Unallocated Earnings
Hi,
In Odoo 19, Previous Years Unallocated Earnings appears in the Balance Sheet when some income or expense accounts were posted with dates that fall outside the current fiscal year, so Odoo automatically sends those amounts to “previous years” instead of “current year” earnings. Because these entries belong to a closed or older period, Odoo will not let you journal them into Retained Earnings using the standard closing process. To fix this, you must either correct the wrong dates on the source journal entries so they fall inside the current fiscal year, or create a manual adjusting journal entry dated on the last day of the previous fiscal year to move the balance from Previous Years Unallocated Earnings into your Retained Earnings account. This cleans the Balance Sheet and ensures the correct opening balance for the current year.
Hope it helps.
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Thank you. I did not articulate my problem accurately. I processed a single journals to put some yearly historical balances including P&L all on the same date 30/06/2023. So the true unallocated earnings from that journal is correct when I run a P&L to check but the Balance sheet shows the amount from the exact same journal that was allocated as 'other expenses' in the Chart of accounts as 'previous years unallocated earnings' IF I change the type to 'expenses' in the chart of accounts for the affected item the number in th balance sheet for the 'previous year unallocated' is empty.
I suspected there is something inherently wrong with the formula that puts this line in the balance sheet. So I extracted this from the accounting reports (developer mode) balance sheet and realised that this line was missing the entry 'expenses_other'.
[('account_id.account_type', 'in', ('income', 'income_other', 'expense_direct_cost', 'expense', 'expense_depreciation'))]
It came to me overnight as I had a similar issue with the P&L where other expenses was being left out of that report and this item was missing from that part of the P&L
Anyhow, thanks again and the issue has been resolved.