COA - Retained earning/Exchange difference

[yy1]

We installed QB Pro recently and selected the industry as general product business.We also activated the multi currency function.In the Chart of accounts I can not find the following accounts:

Retained earnings

Profit or loss on exchange

I thought these are system generated accounts and there is no need for me to create.

I notice the following accounts in ther system generated COA:

Opening balance equity

Equity

Is Opening balance equity the Retained earnings account?

What about Profit or loss on exchange? Can I create one?

I would be thankful for an early reply.

[yy1]

I have now found the answer to my questions:

Retained earnings

Go to reports and click open the balance sheet

Go back to chart of accounts and open it

Retained earnings account will now appear.Other balance sheet accounts in the COA will show 0 balance but Retained earnings will not show any balance

Exchange gain/loss

Create an invoice in foreign currency

Receive payment for the foregin currency invoice at a different exchange rate

Exchange gain/loss account will now appear in the chart of accounts.

In previous versions of QB these account appear automatically in the COA.I do not know why we have to follow this long route now.