Adjusting Retained Earnings after the close of the first year in SortMyBooks

 

If the Retained Earnings were not set up properly in year one, it is not possible to directly adjust it in subsequent years.

However there is a workaround:

If you create a suspense P&L account, you can do this in Tools and Nominals and scroll down to Expenses heading Other and click on it and on the right hand side you can click on New and add a new nominal called Suspense P&L.

If you journal that instead of the Retained Earnings nominal, it'll impact the amount of the profit coming forward and therefore impact the amount in the Retained Earnings.