I have just done my year end for the 2nd time since being with you and I have 3 profit and loss showing on my balance sheet what are these all for?
no number - PandL
3101 - Retained Profit and undistributed reserves
3200 - Profit and loss account
I have worked out what the top 2 are just not the 3200
It looks like it was journalled in on your last year-end. Although the system would normally allocate it to 3101, it doesn’t automatically involve 3200.
I would just edit your last year and journal and move it to 3101. If it relates to a previous year’s profit that’s where it should be.
If you have an accountant I would always check with them first though.