You are here: 62. Micronet End of Year Seminar > 62.5. End of Year Procedures > 62.5.2. GL End of Year in Version 2.6 and Below > 62.5.2.1. Special Accounts

Special Accounts

Current Year Earnings and Retained Earnings in the Balance Sheet are nominated in General Ledger configuration under Special Accounts. When GL End of Year is run, the Current Year Earnings amount is posted into Retained Earnings (Prior Year Profits).

To verify your Special Account configuration in MGL:

  1. Select MAINTENANCE | EDIT COMPANY.
  2. Select a company.
  3. Select EDIT | SPECIAL ACCOUNTS.

Micronet displays the Special Accounts screen.

  1. Verify that the GL account at Current Year Profit and Loss is correct.
  2. Verify that the GL account at Unappropriated Profits previous years is correct.
  3. Select Ok.

Micronet displays the Change Existing Company screen.

  1. Select FILE | SAVE to save your changes.
  2. Select LOGIN to update your logged in session of MGL.