Question

Retained Earnings or Owner's Equity accounts in COA, DESKTOP

My COA shows NO RE account. Neither does it show up after running reports. I believe the RE acct is actually my OE acct.

IF SO, should I just leave the OE balance as it is at year end?

I ask because apparently the correct year end adjustment would be to move the RE balance TO the OE account.

I'm not asking how to find or create the RE account, just to be clear.

If you see an Equity account on your chart of account that has no balance, that's your special Retained Earnings account (no matter what it's named).

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