What Is Accumulated Income?
Accumulated income, commonly referred to as retained earnings, includes the portion of net income that is retained by a corporation over time, rather than being distributed as dividends. Any accumulated income is typically used by the corporation to reinvest in its principal business or to pay down its debt. Accumulated income is the amount retained by a company to either reinvest in its principal operations or invest in capital expenditures. Accumulated income is located under shareholder’s equity on a company’s balance sheet and is often referred to as retained earnings.Capital structure and budgeting decisions rely heavily on accumulated income.
Here we are going to learn about the Retained Earning and Accumulated Profit and Loss.
Step 1: Select Balance Sheet Report menu under Accounts Module.
Step 2: Select the Report of Balance Sheet Summary.
Step 3: Select the required Date Range(01/Jan/2020 to 31/Dec/2020) and click submit button.
Step 4: Now under the Head of Equity, we have the Ledger of Retained Earning Accumulated P and L.
Step 5: In this Head it will show the Net amount of Profit and Loss Summary
The above blog explains about the Retained Earning and Accumulated Profit and Loss.
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