diff --git a/Makefile b/Makefile
index 261aae5..b8813bf 100644
--- a/Makefile
+++ b/Makefile
@@ -13,7 +13,7 @@ LEDGER_FILE=finance/pta.journal
 
 # show a balance sheet with retained earnings and inferred conversion equity
 bse:
-	(cat $(LEDGER_FILE); hledger close --retain --close-to=equity:retained-earnings) | hledger -f- bse --infer-equity -t --no-elide
+	(cat $(LEDGER_FILE); hledger close --retain --close-to=equity:retained) | hledger -f- bse --infer-equity -t --no-elide
 
 # check the journal
 check:
diff --git a/finance/pta.journal b/finance/pta.journal
index 1393b02..12a8b28 100644
--- a/finance/pta.journal
+++ b/finance/pta.journal
@@ -1,7 +1,7 @@
 account liabilities
 account liabilities:sm    ; reimbursement owed
 account equity
-account equity:retained-earnings   ; used by make bse
+account equity:retained   ; used by make bse
 account revenues
 account revenues:github   ; donations via github sponsors
 account revenues:paypal   ; donations via paypal