It's a normal entry in QuickBooks, Jeff. You don't have to do anything about it.
QuickBooks Desktop for Non-Profit calls "Retained Earnings" as "Unrestricted Net Assets". This account will show the company's income and expenses from all previous years. Once a new fiscal year starts, the software will automatically add the net income from the previous fiscal year to the Balance Sheet as Unrestricted Net Assets.
To see what makes up your Unrestricted Net Assets, you can run the previous year's Profit and Loss report. Here's how:
Go to Company & Financial.
Select Profit & Loss Standard.
Click Dates drop-down arrow, then select All.
Double click the Net Income amount to open the detailed report for all dates.
This report will show all transactions that make up the net profit/loss that the software automatically switched to the Unrestricted Net Assets account.
If any other questions come up, you can get back to this thread. Have a good day!