Retained earnings
Profit the business has kept over the years rather than paid out. Each year-end close moves net income here.
In Solo Superstars
You never post to it directly. During the year, current-year net income shows separately on the Balance sheet; the closing entry rolls it in.
Example
Retained earnings 15,000 at the start of 2026 + net income 41,300 = 56,300 after the year-end close.
Codes shown are the defaults a new workspace starts with. Yours may be renamed or renumbered — check Accounting › Chart of accounts. See the full default chart.
Also called
- accumulated profit
Related
- 3300 Retained Earnings — Profit the business has kept over the years rather than paid out. Each year-end close moves net income here.
- Net income — Revenue minus every cost and expense. Rolls into retained earnings at year end.
- Year-end close — Closing the fiscal year: zeroing revenue and expense accounts into retained earnings, rolling owner draws into equity, and locking the year.
- Closing entry — The journal entry at year end that zeroes every revenue and expense account into retained earnings so the new year starts clean.