Should the equity accounts (Member Contributions and Member Draws) for a sole proprietorship be closed out also? Right now after QB Desktop transferred my net income to RE, the expense accounts and income are still showing in the COA. How do I get it to clear so expenses and income can be tracked for this next year?
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.