When I do year end closing, how do I zero out the current, opening balance and net income equity accounts.

Thank you for reaching out to us here on the Community page, @csaltarelli.

Closing books in QuickBooks Online (QBO) means locking everything entered before the closing date. This helps ensure everything stays the way you want it to and prevents any accidental changes that could affect your reports. It'll not zero out your beginning balance, instead, it closes out your income and expense accounts and rolls up to your net profit or loss as your Retained Earnings.

To close the books in QBO:

1. Go to the Gear icon, select Account and Settings.
2. Go to the Advanced tab,
3. Under the Accounting section, put a check-mark in the Close the books box.
4. Enter the Closing date.
5. Set whether or not a password is needed to change closed transactions.
6. Click Save.
7. Click Done.

If you wish to zero out the current balance and the net income equity accounts, you can record journal entries manually. If you wish to, you can work with a professional accountant to help account the entries accordingly.

Also, you can consider checking these articles for more information about closing books and retained earnings in QuickBooks:

• How to view Retained Earnings account details.
• Close the books
• How to enter a beginning balance for an existing account

Let me know if you have any other questions. I'm always here to help. Have a good day!