I am in the process of moving a Company to Manager. The setup has gone fairly well but would like to know how to handle the retained earnings which have accumulated in the history of the business.
Is there an area in Manager where the retained earnings can be inputted as a starting balance? I have captured all the account data for the previous year and all appears to be looking good. The capital accounts OK etc.
I think if I can get some pointers on how to commission the previous years retained earnings this will add to the current financial year’s retained earnings and the numbers will stack-up nicely.
I am sure there are some who have done this many times. Thanks in advance.