my advanced settings has june as the first month in the fin year, which is correct as our y/e is 31/5.BUT the balance sheet retail dearmnings seems to assume its 31/3

We’ve noted a mismatch in your financial year settings, Mark. You have set June as the first month of your financial year to align with your year-end of May 31st. However, the balance sheet’s retained earnings are calculated based on a fiscal year ending March 31st.

I recommend contacting our Live Support team directly. They are available to assist you with this matter and can guide you through any necessary adjustments. They can screen share with you to investigate and identify the changes.

Here are the steps on how to reach them:
 

1. Go to the Help menu.
2. Click the Search option and type contact support.
3. Choose the Contact Us tab at the bottom.
4. Follow the prompts, then select a way to connect with us: Have us call you or chat with us.

For more information about the live support hours, refer to this article: Get help with QuickBooks products and services.

In the meantime, to manually enter the financial year dates in your balance sheet report, follow the steps below:

1. Go to the gear-like icon.
2. Select Advanced, then click on the pencil icon on the side in the Accounting section.
3. Change the start date of the Fiscal year to anything else.
4. After that, run a Balance sheet report. Then manually enter the fiscal year.

Moreover, this article can be used as a reference. It gives a guide on how to run and customize a report:
 

• Customize the report in QuickBooks Online.
• Run a Report.
  
  

Additionally, for more information on taxes, forms, filings, payroll, and other year-end activities, ensure to check out our Year-End Guide.

If you have any further questions about the fiscal year and year-end, please feel free to reply below, and we will respond to you promptly.