Sage 50cloud Pastel moves your annual profit to the retained income account when you run the Year End. Your company needs only one retained income account for this to work.

Without a retained income account, the year end fails with an error. When you have more than one, delete the duplicates before you run the year end.

 

 

Search for a retained income account

1. From the main menu, select Edit, then General Ledger.
2. Select Accounts.
3. Select the magnifying glass icon.
4. Change Zoom Sequence to Description.
5. Search for retained income.

Based on what you find, follow one of the sections below.

If you find one retained income account

You're set. Continue with your year-end preparation.

If you find no retained income account

Create one before you run the year end.

1. In the General Ledger screen, select the New icon.
2. In the main account number field, enter a new account number.
3. In the description field, enter Retained Income Account.
4. Under Main Account, select Balance Sheet.
5. Confirm the Financial Category shows as B15 Retained Income.
6. Select Save.