retained earnings

Hi there, @the_tile_setters.
 

I hope you're having a great week, let me give you some additional information about a Retained Earnings account.

The answer to question will depends if you already closed your books in QuickBooks. Once you close you entries, the program will automatically create a Retained Earnings account to transfer the balance from the Income and Expense accounts to it. 
 

This account will shows the total of your company's income and expenses from all previous years. When a new fiscal year starts, QuickBooks automatically adds the net income from the previous fiscal year to your Balance Sheet as Retained Earnings.

QBDT doesn't have an actual transaction for closing entries it automatically creates. The program computes the adjustments when you run a report (for example QuickReport of Retained Earnings) but you can't "QuickZoom" on these transactions, unlike the manual adjustments you recorded.

For more details, you can check out this article: How to view Retained Earnings account details.

Don't hesitate to tag my name in the comment section below if you have other concerns or questions. I'm always ready to help.

how do I run a quick report of retained earnings?

There are a few ways to open a quick report for Retained Earnings, @the_tile_setters,

I can share the set of steps for you. First, you can access it in the Chart of Accounts. Here's how:

1. Go to the Lists menu and choose Chart of Accounts.
2. Using the search field, find the Retained Earnings account or scroll through the list.
3. Double-click the account or right-click on it and pick QuickReport: Retained Earnings.
   

Secondly, you may access it from the Balance Sheet report. Simply double-click the line for Retained Earnings to open a quick report.

I'm also adding here a related link about customizing reports to help you filter reports properly. See this: Customize reports in QuickBooks Desktop

If you have other questions or concerns, please let me know in the comment below. I'll be right here if you need anything else. Have a good one!

It is not listed in my chart of accounts

Let's ensure that the account was not made inactive, the_tile_setters.

QuickBooks automatically creates the Retained Earnings account when you close your books. Also, when an account is inactive, it won't show on your reports and Chart of Accounts. 

You can include inactive accounts in your Chart of Accounts by following these steps: 

1. Go to the Lists menu and select Chart of Accounts.
2. At the bottom menu, select the Include inactive option.
3. Look for the Retained Earnings account. All inactive accounts are marked with an X before the account number or name. 
4. You can click the X mark to make it active and then run a quick report. 

If you're still unable to see the account, you can re-sort the list to isolate unusual behavior within your Chart of Accounts. 

Feel free to view these links that give more information about your accounts and financial reports: 

• Learn about the chart of accounts in QuickBooks
• Close your books in QuickBooks Desktop

Keep me posted if there's anything else that you need help with. Take care!

its still not in the list.  :(

I appreciate you for going through the steps shared by colleagues above, @the_tile_setters.

I'm her to help and get you back in working order. Let's perform some troubleshooting steps to get around this issue. I recommend running the Verify Rebuild utility tool. 

This tool scans your company file for issues and fixes them right away. To begin, you can follow these easy steps.

To Verify:

1. Go to the Window menu and select Close All.
2. Then, go to the File menu.
3. Select Utilities.
4. Click Verify Data.

To Rebuild:

1. Go to the File menu.
2. Select Utilities.
3. Click Rebuild Data.

You can also check this article for more detailed steps: Verify and Rebuild Data in QuickBooks Desktop.

Let me also add this link that you can read for your future reference: Reconcile an account in QuickBooks Desktop. This resource can walk you through the steps in matching your real-life bank balance and QuickBooks balance confidently.

Please let me know if you have any other concerns or questions about managing your accounts or any QuickBooks concerns. I’ll be around ready to help and back you up. Keep safe.

The rebuild showed errors