Movement In Retained Earnings

[CKChiori]

Hi guys!

Compliment of the season.

Please I need your suggestion on how to deal with end of the year postings and movement from profit/loss for the year to Retained earnings.

1. Is it to be posted manually or automatically done by the ERPNext?
2. Which accounts are to be affected?

Your response will be appreciated.

Thanks.
Chiori

[sumit_chourey]

Use “Period Closing voucher”

[CKChiori]

Dear Sumit,

I appreciate your response.

Please expatiate more on this period end voucher. Is there a particular journal called period end voucher. How can I do it. Please educate me.

Thanks

[Sumit_Chourey1]

Every Company has there accounting metrology ,generally GL Account Named “Reserve & Surplus” or “Profit & Loss Account” check or Crated Same Account and Transfer PL All GL Net Balance to that GL Via Period Closing Voucher.

[CKChiori]

Thanks