New to the system, everything seems to make sense except that this year’s earnings are added to Retained Earnings, am I missing something?

Fair enough. I’ll simply consolidate the two myself as the start-of year position, and eliminate the Current Year Earnings as an entry. All will then be well… and many thanks for walking me through it.

Current year earnings are recorded under Retained Earnings

lubos Split this topic June 1, 2020, 6:32am 13

3 posts were split to a new topic: Unable to set starting balance for expense claim payers

Topic		Replies	Views
Retained earning	30	2997	January 18, 2023
Ideas - Retained Earnings: Current year + Previous Years	11	633	January 18, 2023
Equity & Retained earnings	2	1508	January 18, 2023
Why are Retained Earnings amounts so different?	21	981	March 15, 2024
New Summary - Retained Earning Account	12	933	January 18, 2023

Current year earnings are recorded under Retained Earnings

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