You can view the Profit and Loss report by year to track Retained Earnings over time more easily: The Profit and Loss Detail report shows all of the transactions that make up the net profit or loss that QuickBooks Online automatically switched to your Retained Earnings account. Select the Net Income amount to open the Profit and Loss Detail report for All Dates.From the Report period dropdown list, select All Dates.Locate and select the Profit and Loss report.Go to Business overview then select Reports ( Take me there), or go to Reports ( Take me there). ![]() The Retained Earnings account is a rollover of all previous fiscal years' net profit (or loss), and QuickBooks Online automatically and electronically swaps funds from your net income or loss into the account and doesn't record any visible transactions for it.īecause of this, to see what makes up your Retained Earnings, you have to run your previous year's Profit and Loss statement. However, you can't simply select Retained Earnings from the Balance Sheet to view details. When a new fiscal year starts, QuickBooks Online automatically adds the net income from the previous fiscal year to your Balance Sheet as Retained Earnings. Your Retained Earnings account shows the total of your company's income and expenses from all previous years. View details of the Retained Earnings account ![]() To see what makes up your Retained Earnings, you can run a Profit and Loss report and view details for the Net Income (Loss) amount. ![]() This swap does not show on any report unless there have been other entries made to the Retained Earnings account. The Retained Earnings account displays the profit a company reinvests in itself.Īt the end of the year, QuickBooks Online uses a transfer called electronic swap to move money to Retained Earnings.
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