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Running balance sheet for fiscal year vs calendar year, net income/ retained earnings treatment
We have fiscal year set to 7/1-6/30, but our private equity firm is using calendar year as fiscal year. When we run balance sheet by month, Jun vs Jul, as expected, Net Income will be closed to Retained Earnings for year end. Is there a way to produce Jul balance to have the same retained earnings as for Jun, so we can match the way our private equity firm is reporting.
Thank you!
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