Net Income missing from Balance Sheet

[Charles Day]

On Mon, Jul 7, 2008 at 2:10 PM, Jannick Asmus <jannick.news at gmail.com>
wrote:

> On 07.07.2008 22:49, Tony Nelson wrote:
>
>> Yes it is different than Retained Earnings.
>>
>
> I agree.
>
>  Both QuickBooks and GnuCash show the same "Retained Earnings" amount,
>> which relects historic retained earnings through the end of the prior
>> fiscal year.
>>
>> GnuCash, does not show a line item for Net Income, which is the earnings
>> for the present fiscal year to date (at least that is what it is with
>> QuickBooks).
>>
>
> I believe that GnuCash comprises net income in retained earnings.
>

Yes, the GnuCash balance sheet's Retained Earnings line includes income
during the period. If Quickbooks shows Net Income on the balance sheet, then
where on the balance sheet does it show what amount of Net Income has been
paid out as dividends (as opposed to retained)?

I thought that retained earnings in period = net income - dividends paid, so
if you show net income on the balance sheet then you would have to show a
subtraction for dividends paid as well.

Cheers,
Charles


>  Note: GnuCash does show the proper amount of net income on the income
>> statement, but this amount does not show up on the balance sheet (as it
>> does with QuickBooks).
>>
>> Again, many thanks!
>> --Tony
>>
>
> Best wishes,
> J.
>
>
>  On Mon, 2008-07-07 at 13:36 -0700, Charles Day wrote:
>>
>>> On Mon, Jul 7, 2008 at 1:27 PM, Tony Nelson <tonyn at openlearning.com>
>>> wrote:
>>>        Hi All,
>>>                In quickbooks my balance sheet shows a net income line
>>> under
>>>        the equity
>>>        category.  I don't see this with GnuCash?
>>>
>>> Is this something different than Retained Earnings?
>>>
>>>        Any suggestions on how to make it appear?
>>>                Thanks!
>>>        --Tony
>>>
>>