Transfer of profit

i have transferred some part of last year profit of our business to General reserve.i am confused where to transfer the balance accumulated profit as we cant keep the same in P&L a/c under liability.Plz help
Replies (5)
yes you can transfer it to GR
sir i have transferred 1% of profit to GR.where to transfer the balance accumulated profit ?
what is the issue in keeping it under p&l
In case of company Full profit will be added to 'Surplus i.e. balance in statement of P&L' under the head reserve and surplus in laibility side of balance sheet and then deduct amount transfer to general reserve from such profit.

Eg.
Reserve & Surplus:
Balance in statemwnt of P&L 10000
Add: Current year 100000
Total 110000
Less: Transfer to GR 1000
Balance 109000
should i create ledger of reserve & surplus to transfer balance profit?

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details