Integrating Profit and Loss Report into a set of books and the trial balance

[Wm]

On 07/03/2018 23:14, Stan Brown wrote:
> On Wed, Mar 7, 2018, at 10:56 AM, John Wilson wrote:
>> Stan,
>> Thank you for your prompt help.
>> Attached is my first P&L statement which shows an income of $1,458.23
>> but when I run a trial balance it does not appear in Earnings, which
>> Equity:Earnings account that I set up.
> 
> Correct. The Trial Balance shows every account, so they will always be balanced and therefore everything on there is a real account.
> 
> I was talking about the Balance Sheet. the Balance Sheet shows all asset, liability, and equity accounts, but it does not show revenue and expense accounts. Instead, it shows the aggregate of all revenues minus all expenses (which of course is net income) as an equity item, and calls it Retained Earnings. This is not an account (even if you have an account by that name), just a line item on the Balance Sheet that aggregates all accounts in the income and expense categories.
> 

Have you looked at the eguile BS ? :)

It sounds to me like you are saying stuff without knowing much about 
gnc, Stan Brown.

[snip]


>> I would welcome your opinion
> 
> You just picked a report different from the one I was talking about. It's not hard to do -- there are many reports and many have similar names.

said the man that didn't spot what the eguile balance sheet shows.

-- 
Wm