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author's profile photo Former Member
Former Member

Period End Closing

Dear Expert,

Could you tell me in which Catogery (Liablity,Asset,Equity,Expenditure) A/c Period End Closing A/c define at which name.

Thanks Regards

Amol

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  • author's profile photo Former Member
    Former Member
    Posted on Feb 27, 2009 at 11:17 AM

    Hi,

    You should consult with your clients Account Manager before setting these accounts.

    Generally.........

    Retained Earnings Account=This Account might be in Equity Drawer (Profit/Loss).

    Period-End Closing Account=Expenditure Drawer (Extraordinary Income).

    Hope this will help.

    Regards,

    Sibasish

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