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Simplify payday and set payroll to run automatically on QuickBooks. Explore QuickBooks Payroll

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Replying to:
LieraMarie_A
QuickBooks Team

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Hi there, @parker5095.

 

QuickBooks automatically creates closing entries at the end of the fiscal year to transfer the balance from the Income and Expense accounts to Retained Earnings. This is why you're seeing them for the prior years when you run the account report. You'll want to generate a Profit and Loss report instead. It includes all income and expense transactions for the past five years rather than just the closing balance. 

 

Here's how:

 

  1. Go to the Reports menu.
  2. Choose Company & Financial and select Profit & Loss Detail.
  3. Modify the reporting date.

 

You can further personalize it by clicking the Customize Report button and selecting different options available. You may also export it to Excel to save, store, and transfer it digitally if needed.

 

Feel free to swing by if you need further assistance with getting the report you need. I'm always here to help. 

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