Ending your fiscal year with a net loss can be tough to deal with. The accounting, though, isn't any more complicated than ending on a net gain. The process of creating and then closing an Income ...

At the end of every accounting period, you must close the balances in your sales and expense accounts. You open the income summary account to hold these account balances during the closing process.

Learn about portfolio income, including examples and methods to enhance earnings. Elevate investment returns with expert tips on managing dividends and capital gains.