Retained earnings

Retained earnings
How to get rid of this in the lists
My company’s program does not have this account

You can’t get rid of this account because it show the net income at end of the financial year. retained earnings balance is revenues minus expenses equal net profit

1 Like

In the trial balance, the movement is supposed to appear only during a specific period and the result of the activity is not required.

When net income (“the movement”) is closed at the end of the period, it has to go somewhere, and that is automatically retained earnings; you can rename the retained earnings account, or journal the balance to a different account, but in order for the accounting to balance there has to be an account that answers to this purpose.