What is Retained Earnings?
The percentage of net earnings not paid out as dividends, but retained by the company to be reinvested in its core business, or to pay debt. It is recorded under shareholders' equity on the balance sheet.
Retained Earnings (RE) = Beginning RE + Net Income/Losses - Dividends
Auto generated Retained Earnings Setting
- Accounting > Maintenance > Configuration > Edit Financial Year and Period
- Select Company > Set Company
Select Financial Year > Submit
Auto generated Retained Earnings > check > submit
Showing Retained Earnings at Balance Sheet
- Accounting > Financial Statements > Balance Sheet
- click Generate Report
- The journal entry Retained Earnings was auto generated.