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Former Member
May 13, 2008 at 12:00 PM

Reconcilation of Retained Earnings

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Hello Experts,

I am getting the difference between the closing balance of 2007 for retaining earning and opening balance of retaining earning a/c for 2008.

So kindly guide me how i can reconcile the difference between the balances.

I think i need to add up the gl a/c balances (Net profit ) to the closing balance but in that case how do i know which gl a/cs are linked to retaining earning a/c

Thanks in advance

Vinod