QB Issue Resolution:

Your retained earnings from the 2018 financial year may differ from this year. You may have an entry with only affecting the Balance Sheet accounts against the Retained Earnings account.

 

You can compare your balance sheet and last financial year’s profit and loss to verify the difference. Make sure both reports have the same reporting method.

 

To learn more about the details of your retained earnings account, you can check this article: How to view Retained Earnings account details.

 

If you have additional questions or any clarifications, comment it down below. I’ll be ready to pop-in and help. Have a fantastic day!

Resolution for Issue 'Opening RE is different in SOFP Hi, my account Financial Year is Apr to Mar and I started using Quick Book from Apr 2018 onwards. So, i have imported 31 Mar 2018 opening balances and when I extracted SOFP at year end 31 Mar 2018 is correct. But, when I extracted 31 Mar 2019 SOFP, my opening RE is different with 31 Mar 2018. May I know why it is different ?' available: Yes (Solved).
Source: Intuit Community forum.

Opening RE is different in SOFP Hi, my account Financial Year is Apr to Mar and I started using Quick Book from Apr 2018 onwards. So, i have imported 31 Mar 2018 opening balances and when I extracted SOFP at year end 31 Mar 2018 is correct. But, when I extracted 31 Mar 2019 SOFP, my opening RE is different with 31 Mar 2018. May I know why it is different ?: 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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Error Recovery for Opening RE is different in SOFP [Canada]
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