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how to transfer the retained earning amount from curret
year to next year? what is the path in apps financial
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Answer Posted / neehar ranjan sahoo
Retained earning is one of the most mandatory account
without which the setup book cannot be setup and its other
wise called as Fund balance.
And the transfer of the retained earning amount is very
automated process no manual intervention is required.
After netting off of each and every months profit against
lossess the ultimate profit gets transfered to the next
year.and it gets accumulated in the Adj-period of that year.
i mean if one start calculating the profit and lossess of
each and every months in a year then would b definitely
getting the same ultimate figure lying in the ADj year's
profit and lossess account.And that's the amount which gets
transfered automatically to the next year under the head
Retained earning account.
So the path is : through Adjusted year's Trial balance
one can reach at the adjusted profit and loss figure lying
in that Adjusted period.Which is the ultimate figure of
Retained earning and that figure gets automatically gets
transfered to the next year retained earning accounts.
| Is This Answer Correct ? | 8 Yes | 2 No |
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