Retained Earnings..Postings?

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT member discussion
Where would an opening debit balance of "retained earnings" be posted on SAGE please? I feel totally silly asking but not had to do this one before and cant find my old college books???!!! (just moved!)

Edwina

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Retained Earnings..Postings?

    It should be posted to the balance sheet account for retained earnings, which I think is just called the profit and loss account in Sage.

    It will probably be nominal code 3200 depending on your layout of accounts.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Retained Earnings..Postings?

    Thats what I thought! (really!)... thanks for that pne.

    edwina

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