Net loss or profit is for a specific period of time. Retained earnings would be
for the whole file up until the last closing period. So if your annual start
date is the end of the calendar year, then the retianed earnings would be the
equivalent of running a profit and loss since the beginning
Again another Newby question.
When I generate a Profit and Loss report it shows a net Loss for the period
of £567, yet on the Balance Sheet report it shows a Retained Earnings figure
of £701.
I dont understand why the difference, as I thought Retained Earnings meant
Profit.
Any help
