I have been reading through this thread and I have almost the exact same problem, Closing Entries are not in my Member Equity account. I have a -Six Figure balance in my Member Equity account. All that is in there are the transfers to Member Draw to balance that account to $0 at the end of the year. How the Greek do we fix this problem?

Started Sole Proprietor 2012, changed to S-Corp, Just noticing this in QB Online, thought I would check my lifetime Balance Sheet. Shows negative six figures in total. Shows Positive balance for this year when filtered. WTF?