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    Previous year retained earnings

    sffdib
    Level 5

    Previous year retained earning is out of balance. I checked QB balance sheet from 2011 until to date, it all adds up except for 2019. QB retained earning changed by $225, ProSeries is out of balance. How do I make an adjustment to prior year retained earnings in ProSeries?

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    3 Comments 3
    abctax55
    Level 15

    For that tiny amount I would treat it as other income, or non-deductible expense depending on the direction it is off.

    HumanKind... Be Both
    sffdib
    Level 5

    Thanks.

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    qbteachmt
    Level 15

    If you really care, you can search their data for any transaction that = $225; typically, someone made a change to one thing, not considering it was historical and reported already.

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