Transfer from general reserves to profit & loss account?????

santosh (Student) (67 Points)

15 March 2018  

Hello All,

I need a help.

We have a general reserve balance.

Now we want to transfer the same to Profit & loss account(retained earnings) instead of maintaning the same as Gen Reserve.

Can we do that?? What could be the better approach either to mantain general reserve or trasfering itto P&L account..

If there is no differece, can you share the procedure with me???

Thanks in advance