Profit Period & Period End Closing

[Former Member]

Dear Experts

I need to create balance sheet report using my company format

But I have problem regarding how to display profit period

Do SBO keep the profit period value somewhere?

If SBO do not keep the profit period value, then I should calculate it myself, but to do that. I need to determine whether user has run period end closing or not, how can I determine that?

Because if user hasnu2019t done year end closing, then I should take from

(Last year Sales - COGS u2013 Cost) + (current year Sales - COGS - Cost)

But It user has already done year end closing, then I should take only from

(Current year Sales - COGS u2013 Cost)

Thank You

Best Regards

JeiMing

[Former Member · Accepted solution]

Dear JeiMing,

You can check Retained Earning account to see. If there is entry in the beginning of the year, PEC has been done.

Thanks,

Gordon