Does the Profit & Loss final figure transfer automatically to Reserves at year end?

Question

Do I need to make a manual adjustment?

Anita Harper · Accepted Answer

You must actually run the Period End/Year End process. When you do, it clears down all the P&L accounts and posts the balance to the reserves account (3200 by default).

Sage 50 Accounts

Does the Profit & Loss final figure transfer automatically to Reserves at year end?

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