QB Desktop doesn't have Gears. That description is for QB Online.
The program "closes" Net Income to Equity always, because you see that one line in the Bal Sheet as part of Equity every time you run a Bal Sheet report.
You don't need to "Close" the books. Your program already puts the value from Net Income as of the final date on the Balance Sheet and the bottom of the P&L, into Retained Earnings on the first date of the new fiscal year. So, for instance, Jan 1st, there is no Net Income line on the Bal Sheet at all, if you have no transactions date Jan 1.
You will have year end entries, you might also want to zero out some accounts such as Equity Draws, distribution, or allocate Retained Earnings across partner equity accounts. That's up to you.
