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Hi,
In the close income statement request page, there is an options that it's not clear tom me how it works :
Post to retained Earnings account : details, balance
in the tool tip there is a short explanation but it's not enough for me to understand what the different choice means.
Could anyone help me in undestranding how it works?
Many thanks
Alessandro
BC follows your typical logic here:
RE = RE_0 - NI
RE = retained earnings
RE_0 = beginning retained earnings
NI = net income profit or loss
So you are merely identifying which G/L Account will be used to house the value of profit.
Dividends might be considered before posting too
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