Friday, December 14, 2007

Retained Profit Account

After you run the GL balance carry forward, you only manage to know the balance carry forward for the retained profit account but you don't how much is actually post to the particular account. You have try almost all of the standard report but still can't find any report that can show you the figure.

The balance carried forward is only a 'calculated' figure and not a 'posted' figure. The break-up of the retained earnings figure is available when you run the balance carried forward report.
You can also derive the balance by selecting only the P&L Accounts for the relevant period. The net balance of these accounts should equal the retained earnings account.


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