End of the Year Accounting

I have read in a few posts that QB at year end will close out the net income to retained earnings.  I have not see this done.  Do I need to initiate this process some way?  I am fairly new to QB and not too familiar with its process.  I am asking because I have a Partner Distribution account in the negative that I would like cleared out for 2024. Thank you for your help.  Also, I have a S-Corp if that's necessary information.