This is Equity: “From the income that I make, am I supposed to move the funds into a Retained Earnings account and pay myself in dividends through there?”

What you are seeing when you run the Balance Sheet account, is that ALL of this is in Equity, already. There is nothing […]

Resolution for 'closing equity issue: 'I hear that you’re supposed to pay dividends to your shareholders through your Retained Earnings account. I formed a new business with no previous year’s income.' available: Yes.

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

For more information about resolving issues related to closing equity in Quickbooks/QBO or to get support for the issue 'I hear that you’re supposed to pay dividends to your shareholders through your Retained Earnings account. I formed a new business with no previous year’s income.', click the link below: