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NSC | Customize Balance Sheet: How to move Net Income from Prior Periods to Retained Earnings?
Scenario:
User want to move Net Income from previous periods (beginning of the year) to Retained Earnings in Balance Sheet.
Solution:
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.
