Configuring prior year net income roll forward

Question

"It looks like our beginning balances aren’t being calculated from the prior year to this year. How do we automatically roll forward prior year net income into this year’s retained earnings beginning balances?"

Answer

This functionality should occur automatically in Catalyst, but in some cases, it may need to be turned on or configured.

Follow these steps to ensure that prior year net income is correctly rolled forward into this year's retained earnings beginning balance.

1. Verify super admin access
   • Ensure that you have super admin privileges in Catalyst. Usually, only EBM employees have this kind of access. If you're not sure or need us to check on this for you, reach out to Support at support@ebmsoftware.com to confirm by referencing this article.
2. Access system info page
   • Log in to Catalyst and go to the user profile dropdown located at the top right of the Catalyst interface. Click on "System Info" and wait for the page to populate. This may take a few minutes to load the table of options. If the page never loads, it indicates that you do not have super admin privileges.
     
     
     
     
3. Locate beginning balance configuration
   • Use the Control + F function to perform a word search for "beginningbalance." This will help you locate the setting you need to turn on.
     
     
     
     
4. Turn on the setting

   • Once you find the "beginningbalance" setting, change the option from "False" to "True."

   • Click the save icon to save your changes. In some cases, you may need to do this process twice if the setting doesn't save the first time.

     In some cases this BBal setting should stay set to False. For example, when its logic is custom or if it exists in the overnight automation and integration.

5. Configure balance sheet accounts

   • Navigate to the Administration section in Catalyst and select "Hierarchies."

   • Locate the primary Account hierarchy and click on "Edit."

   • Move to the "Configuration" tab.

   • Select "Balance Sheet" to open its configuration page.

6. Define the balance sheet node
   • Change the Account Group to "Balance Sheet" and select "Save." This step defines the Balance Sheet account node used for Balance Sheet reports.
     
     
     
     
7. Refresh the cube
   • Reprocess the cube by clicking "Refresh Cube" in the dropdown menu at the top right of the Catalyst interface.

By following these steps, you should ensure that prior year net income is correctly rolled forward into this year's retained earnings beginning balance. If you encounter any issues or have further questions, please reach out to Support for assistance.