Transfer of profit

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?