QB Issue Resolution:
you close the drawing and investment as well as the retained earnings account to partner equity with journal entries
debit investment, credit equity
debit equity, credit drawing
debit RE, credit equity for the partner share
Resolution for Issue 'Closing out Owner Investment and Distribution at end of year.' available: Yes (Solved).
Source: Intuit Community forum.
Closing out Owner Investment and Distribution at end of year.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for credit drawing
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Error Recovery for credit drawing [Canada]
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