Hi @katherinejoyceO  and @JamesDuanT ,

Thanks for the explanation. Appreciate it.

It seems that the Balance Sheet report is unable to show the YTD amounts if the fiscal period is more than 12 months. I have changed the first month of the fiscal year to January, and even set the date filter for the Balance Sheet to 1 August 2018 to 31 December 2019, but the net income is still different. The retained earnings account automatically calculates the closing entry on 31 December 2018. I will just add this amount back to net income in the Balance Sheet.

I will close this thread.

Thank you.