Retained earnings represents the sum of all income and expenses (your net income) for prior years, for any given balance sheet date.  Current earnings is for this year.

Resolution for 'balance sheet date issue: '“Retained Earnings” is confusing, seems meaningless to my situation as treasurer of a small church.' available: Yes.

The balance sheet date 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 balance sheet date issue yourself by looking for a resolution described in the article. If it is a complex balance sheet date issue or you are unable to solve the issue, you may contact us by clicking here or by using other balance sheet date support options.

For more information about resolving issues related to balance sheet date in Quickbooks/QBO or to get support for the issue '“Retained Earnings” is confusing, seems meaningless to my situation as treasurer of a small church.', click the link below: