This form allows to rename built-in Retained earnings account.
To access this form, go to Settings, then Chart of Accounts, then click Edit button for Retained earnings account.
The form contains the following fields:
Enter the name for this account. The default name is Retained earnings, but you can rename it to better suit your business needs.
Optionally, enter an account code. Codes help organize accounts and can be used for searching and sorting in reports.
Select the Balance Sheet group where this account should appear. The default is the Equity group, which is appropriate for retained earnings.
Click Update button to save your changes.
This account cannot be deleted, it is automatically added to your Chart of Accounts for every business.