[GNC] Difference between Net Loss and Retained Earnings

[Gareth Davies]

Again another Newby question.

 

When I generate a Profit and Loss report it shows a net Loss for the period
of £567, yet on the Balance Sheet report it shows a Retained Earnings figure
of £701.

 

I don’t understand why the difference, as I thought Retained  Earnings meant
Profit.

 

Any help much appreciated.