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usereduardo
Level 1

How I can edit my retained earnings account

 
1 Comment 1
Jen_D
Moderator

How I can edit my retained earnings account

It's nice to see you here, @usereduardo,

 

I can guide you how to edit your Retained Earnings account in QBO. If you want to change the account information, you can use he Edit option in the Chart of Accounts.

 

Here's how:

 

  1. Tap the Accounting menu from the left navigation panel.
  2. Choose the Chart of Accounts tab.
  3. Find the Retained Earnings account.
  4. Click on the drop-down arrow beside Run Report found in the Action column.
  5. From there, you can edit the account name and description.

 

However, if you're referring to adjusting the Retained Earnings balance, you can create a journal entry to fix any discrepancy. Please note that this process needs an accountant's advice. JE's can affect your financial reports and books which is why an accounting professional's aid is necessary. 

 

I'll be sharing some related links about Retained Earnings account and how it works in QBO. See them here:

 

 

Kindly add some updates or additional details below. I'll be right here to ensure you're able to edit the Retained Earnings account successfully. Have a good one!

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