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Ablojep
February 28, 2024
Question

Retained earnings on balance sheet different after migrating

  • February 28, 2024
  • 1 reply
  • 0 views

Hi,

 

I've been trying to figure out why the retained earnings amount on the balance sheet differs between Quickbooks desktop and Quickbooks online after migrating. The report is for the same period (i.e. 01/01/2022 to 12/31/2022).

From the Quickbooks desktop report the Retained Earnings amount in $55,590.07 and from Quickbooks online it is $77,747.74. Where did the over 22K difference come from?

 

Thanks.

1 reply

Clark_B
Clark_B
February 28, 2024

Welcome to the Community, @Ablojep.

 

I'd be glad to help and provide insight into why there is a amount difference between QuickBooks Desktop (QBDT) and QuickBooks Online (QBO) after migrating.

 

To begin with, when comparing your financial reports between QBDT and QBO, make sure to check the following when you run your reports:

 

  • The Report period is set to All Dates.
  • The Accounting method is set to Accrual.
  • To check the balance of each of your Accounts Receivable (A/R) and Undeposited Funds accounts.

 

After making sure it's all set and you may notice a difference in how your books appear, check this article to learn what doesn't come over from QBDT to QBO. Also, I suggest consulting your accountant for further assistance.

 

I'll also add these articles to help you how to customize reports and to guide you about the steps you should take after you move from QBDT.

 

 

Please don't hesitate to click Reply, if you have further questions about the retained earning amount difference after migrating from QBO. I'll do my best to help you out.

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