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accountingopeningbalances
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Balagopal

When am entering the opening balance in Odoo 12, the system automatically creates one balancing entry with an account named Undistributed Profit/Losses (Account Type is Current Year Earnings)

I don't want to show this account in the Balance sheet. Is there any option to hide this account in the report???

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Patrick Lai (Wah Sum Electrical Engineering Supplies Limited)
Best Answer

In double accounting system, you have to debit in one side and credit in the other to make the number balance.

Maybe you can balance it with the Retained Earnings account.

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