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paul-leafwise-co
Level 1

I'm loading up a new chart of accounts. Its accepted 177 of the 180 lines but won't accept 3 lines apparently because it doesnt like the Account Name. Any suggestions?

The Account Type is Equity and the Detail Type is Retained Earnings. I've tried various Account Names eg P&L Dividends and Retained Profits. Can you help please?
1 REPLY 1
IrizA
QuickBooks Team

I'm loading up a new chart of accounts. Its accepted 177 of the 180 lines but won't accept 3 lines apparently because it doesnt like the Account Name. Any suggestions?

Hello there, Paul. I'm here to share some information regarding Retained Earnings. 

 

In QuickBooks Online (QBO), Retained Earnings is one of the default ones that automatically set up after creating a company file. So, when adding an account to your Retained Earnings, only one account of detail type can exist, which means that creating another account within Retained Earnings is unavailable.

 

However, you can change its name in the Chart of Accounts. After changing it's name, you can see it in your reports. 

 

Here's how: 

 

  1. Go to the Gear icon located at the upper right corner and choose Chart of Accounts
  2. Search for the Retained Earnings account.
  3. Under the Action column, click the Run Report dropdown.
  4. Tap the Edit option. 
  5. In the Account name field, you can change the name of the account.
  6. Once done, press Save

 

You can also use this article to see a snapshot of your business: Run reports in QuickBooks Online

 

Feel free to leave a comment below. I'll be around to help.

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