karenr888
Aug 1, 2010, 05:52 PM
There are only a few categories that closed when doing an income summary. Could you please remind me? Thanks
ROLCAM
Aug 1, 2010, 09:21 PM
When doing an Income Summary,
ALL Income and Expenses Accounts finish up being closed.
morgaine300
Aug 3, 2010, 10:47 PM
Then you also close the Income Summary, and finally the dividend or drawing account, whichever you have.