QB Issue Resolution:

How do I view the details of the Retained Earnings account?
Answer ID: 6459

To view the details of the Retained Earnings account:

You can’t click on retained earnings from the balance sheet. The reason for this is the Retained Earnings account is a rollover of all previous fiscal years’ net profit (or loss). QuickBooks Online does this “swap” of funds from your net income or loss automatically and does not record any visible transactions.

Because of this you have to run a previous year’s Profit & Loss statement to see what makes up the Retained Earnings number.

Choose Reports from the menu on the left.
In the “Go to report” field, enter Profit and loss.
Choose the Profit and Loss Report.
Set the From: date to a date that is before your earliest transaction and set the To: date to the last day of the previous fiscal year.
Click Run Report.
Click the Net Income amount.

This will bring up a detail report that shows all transactions that made up the net profit or loss QBO automatically switched to your Retained Earnings account. If this number is different from what Retained Earnings is currently showing, transactions only affecting balance sheet accounts may have been entered against this account. You can see these user-created transactions if you look at the account QuickReport.

Choose Gear Icon > Chart of Accounts.
Click to select the Retained Earnings account and then click Report.
Set Transaction Date to All Dates and then click Run Report.

You may also find it helpful to view the Profit & Loss report by year. By doing this, you can see the amount from the P&L transferred into the Retained Earnings account as it actually occurred. To do this:

Choose Reports from the menu on the left.
In the “Go to report” field, enter Profit & Loss.
Choose the Profit and loss report
Click Customize.
On the left sidebar, click Rows/Columns.
Under the Columns drop-down menu, select either Fiscal Years or Calendar Years.
Click Run Report.

Answer ID 6459
Products QuickBooks Online Simple Start (H)
QuickBooks Online Essentials (H)
QuickBooks Online Plus (H)
Categories Using This Product
Date Created 05/16/2014 04:08 PM
Date Updated 04/17/2015 07:48 AM
Allow Crawling? Yes

Resolution for Issue 'How do I view the details of the Retained Earnings account?' available: Yes (Solved).
Source: Intuit Community forum.

How do I view the details of the Retained Earnings account?: 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.

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