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June 29, 2020
Question

I need to adjust the retained earnings from a previous year and after I made the entry the adjusted amount is not showing on the trial balance or balance sheet

  • June 29, 2020
  • 1 reply
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1 reply

June 29, 2020

Hi mary71,

 

QuickBooks offers a robust Chart of Accounts feature which gives you the flexibility to seamlessly manage your final accounts. Don't worry, I'd be glad to assist you with making sure you're able to see the entry on your Trial Balance and the Balance Sheet. 

 

Based on what you've described, I recommend checking to make sure the entries you entered are reflecting in the Retained Earnings account. You can easily check this by running a report using the steps below: 

  1. Click the Gear icon on the top menu.
  2. Select Chart of Accounts.
  3. Find the Retained Earnings account.
  4. Tick the Run Report from the Action column.
  5. From the Report period drop-down list, hit All Dates.
  6. Tap Run report.

From here you filter the dates of the entries to see if they're showing. If they're showing I suggest opening your Balance Sheet and Trial Balance using a private and incognito window. From here, let me know if you see the transactions. If not, I recommend contacting our support team using this link here

 

Feel free to leave a comment below. I'll be one message away. :)