Year end by figures

Question asked by Clare Howden 11 years ago

Is there a tool to process my year end, so that the profit and loss figures move into the retained earnings nominal. My accountant is sending me my opening balance journal so want to do this before posting up the adjustment.

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2 Replies

Hi Clare.

There's nothing you need to do, it's handled automatically.

This is how the p/l figure would be reflected on your balance sheet come year-end:

file

Then the following day you can see it's automatically been moved to retained earnings:

file

Best answer
11 years ago

Thank you Kevin!

Hi Clare, Kevin is right, the system handles it this way so it is all there for you.

Thanks

Chris

11 years ago

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