What Account Types close to Retained Earnings at the end of a fiscal year?

What Account Types close to Retained Earnings at the end of a fiscal year?

Support Team Asked on December 31, 2017 in Sage.
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    The following Account Types automatically close to the Retained Earnings account at the end of each fiscal year:

    • Income
    • Expenses
    • Cost of Sales
    • Equity-gets closed

    Note: For hands-on instruction for closing a year.

     

    Source: Sage Community forums.

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    Support Team Answered on December 31, 2017.
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