What Account Types close to Retained Earnings at the end of a fiscal year?
The following Account Types automatically close to the Retained Earnings account at the end of each fiscal year:
- Cost of Sales
- Equity-gets closed
Note: For hands-on instruction for closing a year.
Source: Sage Community forums.
Disclaimer: Sage Accounting Solution is an independent provider of Sage Related services and is not affiliated with Sage.
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