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Newbie1987
Level 1

Retained Earnings

We transferred QuickBooks from MAC to PC, and now it pulled over retained earnings from 2003 to 2013. I need to clear them out. How do i go about it? We had the company file on another computer, but we decided to start fresh in 2020 and wanted to change and add a lot of subcategories, but now the retained earnings are off showing deposits from 2003-2017 that i don't want on there. Any idea what i need to do to move them?

Ive attached what i am talking about for an example.

 

Thanks for any help or advice.

1 Comment
Catherine_B
QuickBooks Team

Retained Earnings

Hello there, Newbie1987. 

 

When we convert our company file, we don't start over again so the data are still the same. We mentioned that we want to start fresh by retaining other transactions and add new one. 

 

We can create a new company file from existing ones. Through this option, we can copy accounts, lists (customers, vendors, items, etc.), templates, and preferences from an existing company file to get started. For the detailed steps on how to do this, you can check out this article: Create new company files from existing ones in QuickBooks Desktop

 

Our accountant will also help us on how to remove or clear out the retained earnings. This way, we won't mess up your books. 

 

I'll be here if you need anything else. Thanks!

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