Hi. I just started in the program. amazing program btw liked it very much.
Simple question please: I inputed the income and expenses and i have gross profit of 6000.
This 6000 duplicated as suspense and retained earnings - and in the end it doesn’t change my equity(Because the last entry has a profit of 6000). how to make it work? and how can I do it that it will go to my bank account straight(Because this is what happens in real life).
I have knowledge in the accounting section - I know that the net profit in the end of the period should go to unused profit in equity - but i have such a blackout that cannot figure how to fix it.
It is not duplicated as suspense. This is double entry accounting at work, every amount should have an equal counterpart in another account – in your case it’s suspense.
Suspense is a default account for when the user doesn’t supply an account or uses an item that’s not linked to any account.
Provide screenshots of the edit screen of the transaction involved.
Ya i know that it’s not balanced but this is how it goes to the net profit, i debit thr expenses(3900) credited revenues 10000 and i have net profit of 6100. Should i debit my bank account to balance it? In the end the net profit goes there
