NSC | Customize Balance Sheet: How to move Net Income from Prior Periods to Retained Earnings?

You can move Net Income from previous periods (beginning of the year) to Retained Earnings in Balance Sheet. Here's how:

1. Navigate to Reports > Financial > Balance Sheet

2. Click Customize

3. Go to Edit Layout section

4. Edit Sections:

For the Retained Earnings:

A.) Expand Liabilities and Equity > Equity > Retained Earnings > Net Income (Balance Forward to Beginning of Year)

B.) Reference Row:

Relative Range: Balance Forward

To: Start Date

C.) Rename Row: Net Income (Balance Forward to Beginning of Period) - this is optional

Note: The Retained Earnings section of the report is composed of the Net Income Balance Forward (via Income Statement lookup) and Retained Earnings manual postings to this account.