In case of companies a Profit & Loss appropriation account is prepared in
final accounts. Visual Catpro automatically opens a 'P&L: Appropriation
A/c' when you specify a firm as 'Company' in Firm Setup. This account
can not be opened manually.
Opening balance of P&L appropriation account is shown in this account. Net profit as per P&L account is transferred to this account. You should
pass necessary journal entries for Reserves, Provision for Taxation etc.
Closing balance of this account will be shown in Balance Sheet.
