is it possible to move net income during month end close process in AX 2012?

Hello when we run the month end closing, will Net Income gets transferred from P&L to Balance “Retained Earning account”? I know that during the year end close, we can move the net P&L to Retailed Earning account.

Is there a way to update the retained earnings on daily basis or link it to the net profit & loss? I would like to know what is possible in AX and what the best practices are

many thanks for your feedback