GL 7999 - Profit & Loss Summary

BA Icon  GL 7999 - Profit & Loss Summary

 

GL 7999 is a Summary GL Account that reflects the Net Income/Loss as shown on the Income Statement, as at the Balance Sheet date.

When a year-end close procedure is performed in Brief Accounting, the Profit & Loss GL 7999 is closed to Retained Earnings GL 3999.

If an Income Statement is printed for the Open Period, GL 7999 will match the Net Income/Loss on the Income Statement.

To check the Open Period start date:

Choose the Company module > GLSetup tab 
Note the "Current Fiscal Year Start Date"

This is the start date for the Open Period.

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