QuickBooks doesn't make any accounting adjustments at year end. Rumors that it does are a misunderstanding.
The misunderstanding is likely based on reports, such as - for example - the Balance Sheet. As with other accounting systems, the Balance Sheet includes line items for Retained Earnings and Current Earnings.If you run balance sheets for different dates, you'll see those numbers change. However, they don't change because by adding actual adjustments to the company file. Instead, these line items are automatically calculated at report time based on all of the transactions in the company file, similar to the account balances on the balance sheet.
Retaining Earnings = Net earnings for years prior to the current year, based on the report date.
Current Earnings = Net earnings in the current year, based on and up to the report date.
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