Hi, I am a 100% shareholder of my s corp and I have been using QB to do the bookkeeping for the entire history of the company.  My s corp finally made a profit and I have enough basis to distribute the profit out to myself.  My understanding is that the profit can be retained in the company as "retained earnings," distributed out to shareholders as "distributions," or a combination of both.  Therefore, a shareholder distribution should reduce retained earnings while keeping the profit for the year the same.  This is not the case for my QuickBooks (2016 desktop version)...  Regardless of how I change the shareholder distribution entry, "retained earnings" (a close entry) remains the same no matter how many times I refresh the report, as if QB is using the term "retained earnings" as "profits."  Am I setting my QB correctly?  Do you have the same problem?  What should I do to make retained earnings adjust to shareholder distributions?   Or is QB just calling profit "retained earnings?"  If this is the case, how do I show in QB retained earnings in the sense of profit that is not distributed?  Thanks!