The bottom portion of the Equity section of the balance sheet is system generated. These accounts cannot be moved, and user-defined accounts cannot be moved into this section. These accounts include the following: - NET WORTH-BEGINNING
- NET INCOME-PRIOR YEARS
- NET INCOME-CURRENT YEAR
- UNREALIZED GAINS OR LOSSES
I'm not sure why you need an account called "Retained Earnings" when the system keeps track of that for you in the "Net income-prior years" and "Net income-current year" accounts.
NOTE:
You can combine the "Prior Year" and "Current Year" net income onto one line; this is discussed on the forum at the topic Net Income-Prior Years on Balance Sheet.
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Renée Trudeau
Financial Navigator Int'l
Manager, Technical Services
Navigator User Forums
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posted 08-31-2001 01:40 PM
