cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
Announcements
NEW Connect to DBS IDEAL direct bank feeds Click here
Abdul Rehman
Level 5
posted
‎October 23, 2019 11:51 PM
last updated ‎October 05, 2020 8:38 PM

Retained Earning Account value is reflected on certain Reports but NOT in CoA

Hi All,

 

I just recorded an Invoice and observing its impact on Balance Sheet and Trial Balance as an entry in Retained Earning Account. But on chart of account, no value is reflected against the Retained Earning Account. Please clarify the ambiguity?

 

Regards,

Abdul Rehman.

Reply
1 Comment 1
RenjolynC
QuickBooks Team
QuickBooks Team
‎October 24, 2019 01:38 AM

Retained Earning Account value is reflected on certain Reports but NOT in CoA

Good day, Abdul Rehman.


After the invoice is recorded, the total amount would equal the asset and equity's side of the balance sheet report. 

 

Retained earnings is the collected income from the previous year minus dividends paid to shareholders. The amount will be reported on the balance sheet report at the end of each accounting period.

 

For more details about this account, you can check this article: How to view Retained Earnings account details.

 

We'd be glad to answer any questions you have about the account type in QuickBooks. 

Reply