QB Issue Resolution:

For the best advice, I recommend reaching out to your accountant. However, you could use a journal entry to move draws of the prior year into retained earnings.

To create a journal entry:

  1. Click the +New button.
  2. Select Journal Entry.
  3. Fill out the fields to create the journal entry.
  4. Choose Save and new or Save and close.

For more information, check out the video included in this article: Create a journal entry in QuickBooks Online.

Resolution for Issue 'Hi. What to do if the owner drawing is more than the year end retained earning? How to adjust? Will I carry forward to the next year? Or the owner will pay off from personal fund? Since the owners drawing will be adjusted at the end of the year by retained earning, so, if the retained earning is less than the owner drawing, what will be the accounting treatment? Thank you.' available: Yes (Solved).
Source: Intuit Community forum.

Hi. What to do if the owner drawing is more than the year end retained earning? How to adjust? Will I carry forward to the next year? Or the owner will pay off from personal fund? Since the owners drawing will be adjusted at the end of the year by retained earning, so, if the retained earning is less than the owner drawing, what will be the accounting treatment? Thank you.: 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 Journal Entry
Quickbooks Repair Pro will resolve it efficiently and affordably. Guaranteed resolution of your issue, or you pay nothing!

Error Recovery for Journal Entry [Canada]
E-Tech is the #1 Quickbooks data migration and Conversion service provider.

Get 50% off Quickbooks Online

Click Here for 50% off!

Additional Support Options: