Hello, Lori. The Closing Entry line you see in QuickBooks Desktop is not an editable transaction. It’s a calculated line that QuickBooks uses to move each year’s net income into the Retained Earnings account. Any mismatches you’re seeing are usually due to report settings or date ranges rather than a faulty closing entry itself.
Please note that QuickBooks Desktop doesn’t post an actual journal entry to Retained Earnings at year-end. Instead, it computes the Closing Entry whenever you run the Retained Earnings report. Because this line is not a real transaction, double‑clicking it won’t open an editable journal entry.
I suggest ensuring that the date ranges between the reports are accurate and double-check the accounting method you use (cash or accrual basis). Also, prior‑year transactions that were added or edited after the year‑end will update Retained Earnings but may not be reflected properly in a P&L filtered to just one specific year.
I’ll keep this thread open for any updates or anything else you’d like to share.
