I am confused as to what accounts to use in a journal entry to post profits and close an accounting period. I assume retained earnings is debited but then I am stuck. The guide was not specific as far as I can tell. Thank you for any assistance.
Manager is a perpetual accounting program. Read the Guide about closing an accounting period. If you still want to do it manually, then I suggest you visit https://www.accountingcoach.com/ to get the info you are looking for.
You do not need to do that. Manager Automatically calculates profit and show it in all relevant Reports.
Please read the guides. Manager discourages the use of Journal entries especially for payments and receipts (It does not all them)