how do i post earnings to retained earnings?

Hi there, @Air7. I can share some insights about the retained earnings account in QuickBooks Online.

Closing your books is a very important step that you want to be sure to do. This will ensure that your data does not change and that your reports will agree with your tax return. Setting the close date in your QuickBooks QBO file is very simple.

To review your retained earnings in your QBO file for the year to make sure that everything is accurate and complete. You should do this before you provide reports or grant access to your QBO file to your tax professional.

The ability to close the books in QBO is limited to a master or business admin user. Here's how to close books in QuickBooks Online:

1. Go to Settings and then select Accounts and Settings.
2. Select the Advanced tab.
3. Select Edit ✎ in the Accounting section.
4. Select the Close the books checkbox.
5. Enter the closing date.
6. Our recommendation is to select the Allow changes after viewing a warning and entering a password option from the drop-down menu so that a password is required before editing your closed books.

You can use this article as your guide on how to view retained earning account details in QuickBooks Online.

In addition, it is important to set up the correct chart of accounts in QuickBooks Online. Check out this article for your reference.

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