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Former Member

Profit Period & Period End Closing

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

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1 Answer

  • Best Answer
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    Former Member
    Posted on May 05, 2011 at 12:22 PM

    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

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