End of Year Adjusting Entries Report
The End of Year Adjusting Entries report lists the Year End adjusting entries that zero out Income, Expense, and Retained accounts. The adjusting entries only appear on the End of Year Adjusting Entries report that PCLaw® generates after you close the year. The adjusting entries do not appear on any of the G/L Statements. The Income, Expense, and Retained accounts still show a balance on the General Ledger when you run it for the last day of the fiscal year, but the cleared accounts show a zero balance when you run the General Ledger for the first day of the new fiscal year.
Since the cleared accounts have a zero balance on the first day of the fiscal year, they do not appear on the G/L statements unless you enable the Print Zero Balance Accounts option on the Other tab of the Statements window.