How do you close out a year to retained earnings, especially if the company was sold and needs to close in less than a fiscal year?

Hi peter-fryters-ul,

Welcome to the Community. QuickBooks Online is a hassle-free program that simplifies the way you manage your accounting. I'll be glad to point you in the right direction so you can achieve your QuickBooks goals. Making sure you're recording your transactions the right way is a good exercise for keeping your books accurate.

To ensure accuracy in your books, I recommend contacting an accounting professional to get expert advice on this. Doing this will help prevent any future discrepancies in your books. You can also reach out to accounting professionals on our site using this link here. In the meantime, check out the helpful resource below for more info on:

Close your books in QuickBooks Online

I'll also leave this question here so other accounting professional members can chime in and share their expert advice. Let me know if you have other questions, I'm here to assist.