Statement of Retained Earnings
A statement of retained earnings reconciles the beginning and ending balances of the account , This statement is reported as part of the statement of changes in equity in a separate column. Account registers can be accessed from the Chart of Accounts. Every Balance Sheet account in QuickBooks has a register except for the Retained Earnings account. A couple benefits to using account registers is that you can view your transactions as well as see the cleared status of your transactions. A “C” next to a transaction means the transaction has been marked cleared, but not reconciled. One the other hand, an “R” means the transaction has been reconciled using the Reconcile tool.
Retained Earnings is not:
Increased by net income
Decreased by expenses
Increased by revenues
Decreased by dividends declared
Decreased by gains and losses
A statement of retained earnings reconciles the beginning and ending balances of the account , This statement is reported as part of the statement of changes in equity in a separate column. Account registers can be accessed from the Chart of Accounts. Every Balance Sheet account in QuickBooks has a register except for the Retained Earnings account. A couple benefits to using account registers is that you can view your transactions as well as see the cleared status of your transactions. A “C” next to a transaction means the transaction has been marked cleared, but not reconciled. One the other hand, an “R” means the transaction has been reconciled using the Reconcile tool.
Retained Earnings is not:
Increased by net income
Decreased by expenses
Increased by revenues
Decreased by dividends declared
Decreased by gains and losses