| # Source of earnings When you close the financial year, you can use the Automatic Balancing of Profit and Loss Accounts (tfgld6202m000) session to clear Profit and Loss accounts and post the total balance to the Retained Earnings account. Infor LN FP2 In Infor LN FP2, you can clear the Profit and Loss accounts individually or through a single balancing account. However, you cannot view the composition of the total profit for the year, for example, what percentage of the total profit is from operating profit, extraordinary profit, and so on. Infor LN FP3 In Infor LN FP3, the Source of Earnings balancing method is added. If you select this method in the Company Parameters (tfgld0103s000) session, each Profit and Loss account is individually cleared against the related Source of Earnings account. At the same time, the Source of Earnings accounts are cleared against the Retained Earnings account. You can use this method to view the composition of the total profit for the year, for example, what percentage of the total profit is from operating profit, extraordinary profit, and so on. To support the source of earnings accounts, the following changes are made: Source of Earnings (tfgld0138m000) Use this new session to define the sources of earnings and the corresponding ledger accounts for the balancing of the Profit and Loss accounts. Chart of Accounts (tfgld0108s000) In the Source of Earnings field, you can select the source of earnings for the Profit and Loss ledger account. Company Parameters (tfgld0103s000) In the Balancing Method field, in addition to Individual Accounts and Total, you can select Source of Earnings. Related topics Balancing methods for Profit and Loss accounts Example of balancing by source of earnings |