Reserves and Surplus account?

ERPNext
1

Sorry for my ignorance. How to create Reserves and Surplus account cause I don’t see it under chart of accounts.

Thank you.

2

Hi @ekkljs,

If you want to create a new account then please check the reference

Thank You!

3

Hi,

Thanks for trying to help me out!

I know how to create an account but I think Reserves and Surplus account is a special type that requires some knowledge on accounting which I don’t have.

Thank you.

4

Hi @ekkljs,

Chart of Accounts typically includes standard accounts like assets, liabilities, equity, income, and expenses. However, specific accounts like “Reserves and Surplus” might not be predefined.

But if you want to create then as per my understanding fill in details like the Account Name (in this case, “Reserves and Surplus”), Account Type (typically Equity), and choose a Parent Account, often a main equity category. Only way for you to manually add the account to your Chart of Accounts.

Thank You!

5

Hi,

Thanks for the explanation! What I am trying to do is to close fiscal year as explained in
https://docs.erpnext.com/docs/user/manual/en/period-closing-voucher

“Reserves and Surplus” account would work as above if I follow your instruction?

Thank you!

6

tried it on locally.