Hi there, @SimoneatNBBM. I'm here to share some details about Retained Earnings in QuickBooks Desktop (QBDT).
The Retained Earnings account is an Equity account that is also named as the Owner's Equity or Shareholder's Equity in your Balance Sheet.
Regarding your other concern about creating an Equity account, you can do that by following the steps below:
- Go to the Lists menu and select Chart of Accounts.
- From the Account ▼dropdown, select New.
- Click an account type, then select Continue.
- Complete the account details.
- Click Save & Close.
I'd recommend contacting your accounting expert to double-check the account details and the transactions created, such as assigning the share of your shareholders if you're registered as a Corporation. Your accountant will assess and give you the best advice that fits your business needs. If you don't have one, you can check out this link: Find a ProAdvisor.
In addition, you can review this article to know more about managing your business accounts: Learn about the chart of accounts in QBDT. It contains multiple ways how to handle your transactions and the categorization details.
Moreover, I've added an reference to help you track your business' transaction flow in the future: Run reports in QuickBooks Online.
Please let me know if you have any additional questions or concerns. I'm always around to lend a hand. Take care!
