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TC-08088 : Test what happens with month end income statement entry Test what happens with month end balance sheet entry
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Process Area : F&A
Prerequisites
Month has been closed
Steps To Execute
Role: Kimray Accounting Supervisor, Kimray Controller 1. Navigate to Reports > Financial > Income Statement. 2. Confirm the period range at the bottom that you are running the report for. 3. In the "Column" value, select whether to display Departments as columns, Locations as columns and click Refresh 4. 1. Navigate to Reports > Financial > Balance Sheet 5. Observe the Net Income amount and the Retained Earnings accounts are populated.
Expected Results
Observe that the Income statement is broken out by desired level of Departments and Locations. Observe that the Balance Sheet "Net Income" section shows the same amount as the Period range for the current fiscal year. Observe that the Balance Sheet "Retained Earnings" section shows the cumulative amount for prior fiscal years. so that retained earnings is captured at the correct level of granularity: Location Department GL Account