Are you searching for a detailed guide on freeing up space in Intuit Data Protect?

Well, your search ends here as in this blog post, we will cover all the steps to free back up space in Intuit Data Protect if you have crossed your storage limit.

Intuit Data Protect offers 100 gb of backup space and you will run into the QuickBooks Error 2261 if you cross this storage space. You will also receive an email from Intuit about this and information regarding the last backup failed.

You can choose to delete some older files to create some free space for new files. Here’s how you can do that:

Step 1: Check Your Intuit Data Protect Version

Make sure that you are using the latest version of Intuit Data Protect prior to freeing up space.

Check out How To Update Intuit Data Protect for more information.

Step 2: Delete Backup Folders

Important: Deleted backup files cannot be recovered. You can download the backed up file first as a fail-safe option.

• Go to the bottom right of your screen and right-click on the Data Protect icon.
• Now, click on Open Intuit Data Protect.
• Hit Ctrl+R keys.
• You can now delete the backed up files.
• Intuit Data Protect will show the exact size of each folder.
• Wait for the process to complete.
• Choose Delete option.
• Click on the Yes button for confirming that you wish to permanently get rid of the backup folder.
• Click on the OK button to complete the process.

Step 3: Reduce Backup File Size

But you can always avoid this situation by removing the files that aren’t necessary to back up.

• Go the bottom right corner of your screen.
• Scroll to the Data Protect icon and right-click on it.
• Choose Open Intuit Data Protect.
• Click on Change Backup Settings.
• Now, carefully examine and unmark all the files and folders that you do not want to back up.
• Choose Continue button.
• Now, exit Backup Settings.
• Moving forward, you can back up again.

How To Get Support For Intuit Data Protect?

For any assistance with freeing up space in Intuit Data Protect, you can get in touch with the toll-free QuickBooks Support Phone Number +1866-656-1012. You will be connected with the Intuit certified QuickBooks ProAdvisors.

Our QB Experts will connect with you from a remote server connection and free up space in front of you. We also offer 100% refund policy and let us tell you, we never lose a client.

QuickBooks Point Of Sale (aka POS) is the best way to streamline your retail business activities. Due to its great features, many users are delighted with this custom-made software. QuickBooks POS does everything you need when it comes to financial tasks. QB Point of Sale Socket Error 11004 is linked with the QB POS. Basically, this error belongs to the family of Socket Errors in QuickBooks. This socket error needs to be resolved as quickly as possible, as it may affect your progress. QB POS Socket Error 11004 mostly occurs when users attempt to access the credit card to settle the QuickBooks’ credit card batch.

A bad internet can be the biggest cause for the rise of the QB POS Socket Error 11004. A good and healthy broadband connection doesn’t often cause this error. A damaged point of Sale update file can also cause the QuickBooks POS Error 11004.

Troubleshooting Steps To Fix The QuickBooks POS Socket Error 11004

Before you move to the major resolution part, we recommend to try some fundamental steps and check if the QB POS Socket Error is resolved. Here the fundamental steps:

• Hard reset the modem and try to stabilize the internet connectivity.
• Restart your computer. Most of the time, this fixes the problem.
• Verify the roles and permissions to understand if you are permitted to access the web pages.
• Reassure the time and date on your PC. It must be accurate.
• Create a multi-mode set up on several other systems. This may resolve the error.

Below given steps are the major troubleshooting steps to eliminate the QB POS Error Code 11004.

Step 1: Change The Internet Connection Settings In Your Computer

Verify the QuickBooks POS Communication Setup.

• Firstly, run the QB Point of Sale and click on the file menu.
• Select Preferences and then click on Company.
• Go to Merchant & Gifts Services and select the Communication setup.
• Keep proceeding as per the prompts given on the screen and click on Change to this computer at last. Click Save and re-attempt this step.

Edit the Communication Setup

• Navigate to the File Menu in QB Point of Sale. Click on Preferences and select Company.
• Click on Merchant & Preferences and then select the Communication Setup to make the changes.
• Select Internet Connection Setup. Select Use the following connection. In the end, click on the other internet connection option.
• When you have already chosen this option for your QB POS, select My Computer’s internet connection settings. Follow the instructions on the screen and click on done in the end.

Step 2: Change The Internet Explorer Settings To Default(This Is Only For The IE 8 And Later Releases)

• Go to the Internet Explorer browser and hit the alt key.
• Tap on the Tools option.
• Tap on Internet options and then Ok. This will change the IE settings to default.

Step 3: Modify Settings In Windows Firewall

The windows firewall setting can sometimes prevent access to eftsvr.exe. This can be the reason behind the QuickBooks Point of Sale Socket Error 11004. Verify the firewall has allowed the access and the port 8443 is open. This is important for incoming and outgoing traffic.

This article gives all the necessary information to resolve the QB POS Socket Error 11004 manually. If you feel any of the steps complicated, you can get assistance from QuickBooks experts to help you troubleshoot the error.

Get QuickBooks Support Services 24*7.

Users cannot work on the QB POS until they fix the QB POS Socket Error 11004. You can try removing the error on your own with the help of the above-given methods. In case the QB POS Socket Error 11004 is still around, you have the option to contact the technical support department of supportforerror. You can dial the toll-free QuickBooks Support Phone Number +1866-656-1012 to connect with them over the phone. You will be connected to one of the highly qualified QB experts for the instant solution for the QB POS Socket Error 11004.

QuickBooks is best known as one of the most reliable and trusted accounting software. It has some complex features that can help your business grow faster. You can tailor various QB features such as payroll, inventory tracking, and online accounting as per your business’ needs. But, there are a few situations when users can experience some QuickBooks errors such as Native Error Code 00008 of QB. The most common instance of the occurrence of the QB Native Error 00008 is when the user is working on the archive tab. When there is a corrupt or disfigured archive folder, QuickBooks Native Error 00008 arises.

Even though QB is sometimes prone to issues related to installation, server, or company file, nobody can deny the fact that QB is a comprehensive financial solution for your business. It is preferred by many due to its industry-specific features. From defining user roles and permissions to free unlimited support, QB has everything that a high-class accounting program should have. All the QB users should understand that whenever they experience errors in QuickBooks, it is recommended to fix them as soon as possible to avoid the interruption.

Thing To Know About QuickBooks Native Error 00008

When the archive folder is disfigured, there are greater chances of you coming across QuickBooks Native Error 00008. Pro QuickBooks users know that this issue is very common in QuickBooks.

QuickBooks comes with an application known as Point Of Scale(POS). It is integrated with QuickBooks so that users can use this feature accordingly. QuickBooks Native Error 00008 mostly occurs when users are working on the POS.

Resolution For QuickBooks Native Error 00008

Method 1: Delete The Zip Genius Software From Your PC

You might be aware of the Zip Genius program that helps users to compress or extract the files. This is a non-QB software and can be a reason for the occurrence of QB Native Error 00008. To overcome this, you can uninstall this program from your computer and use an alternative app for the Zip Genius. You can use other software like WinZip or WinRar for compression and extraction.

• Press the Windows key and type Control Panel in the search bar.
• Open the Control Panel from the search results and click on the Add or Remove program.
• Find the Zip Genius software from the available list of software.
• Tap on it and select Uninstall to get rid of it.
• Reboot your system when the uninstallation is done.
• Download the WinZip Or WinRar this time.

Method 2: Download The Recently Updated Zip Genius App

Zip Genius Customer support can get the updates for you. You just have to call their customer service team and ask them to get the app updated. They will assist you ahead. If you want to download the updates manually, you can run the official website of the Zip Genius and get the recent version downloaded.

Once you download the app in your system, restart the computer so that the changes will be applied.

Contact QuickBooks Technical Support Service 24*7.

The given steps will help you fix the QuickBooks Native Error 00008. Even though you are not tech-savvy, the provided methods are very simple to implement and eliminate QB Native Error 00008. In case you see that the QB Native Error 00008 is still around, you have to get in touch with the QB Tech Support Team of supportforerror. To reach them, you have to dial the toll-free QuickBooks Support Phone Number +1866-656-1012.

All of the QuickBooks features are easy to use. They benefit a lot to the small and mid-sized businesses. List entries are one of the popular features of QuickBooks. It allows users to access company data more straightforwardly.

This blog gives insight into good-to-know information about the list entries. At the end of this blog, you will be aware of the maximum list entries you can create in QB Desktop and some other useful facts about custom fields. If you are willing to have a word with us over a phone, you can connect with QuickBooks Support Team of supportforerror. One of the QB Experts will assist you further.

Important: QB Desktop Pro and QB Desktop Premier users have to upgrade to QB Desktop Enterprise if they want to add extra entries. For upgrading to QBD Enterprise, users can get in touch with Intuit certified QuickBooks ProAdvisors on the toll-free QuickBooks Customer Service Phone Number +1-866-656-1012. Once you get connected, you will be assisted with the required steps to upgrade your QBD pro/premiere to QBD Enterprise.

Maximum List Entries Allowed For Windows OS

Users can get one fantastic benefit if they use QB Desktop Enterprise 14.0 or later versions. They can insert up to 1 million additional list entries. But, when you cross the threshold limit, some difficulties may occur.

To eliminate this problem, you can follow some steps. You can check the list of information and work accordingly. To do this, you have to press the F2 key while you are on the QB. This will open the List Information windows. You can verify the list related info here and proceed.

When it comes to the custom fields, the table has information about the total limit. This total is the combination of entries done for customers, vendors, and employees.

Users generally get 15 custom fields if they use the QB Pro or QB Premier. Each category can use up to 7 custom fields.

QBD Enterprise users can use 30 custom fields, and each category can use up to 12 custom fields.

Maximum List Entries Allowed For MAC

Previously, a few of the items mentioned in the following table were not available for the older QuickBooks versions. This is the updated data that tells all information about the limits of list entries in MAC OS.

Generally, users can insert up to 10000 names in each list. However, 14,500 is the maximum limit you can consider.

More On Some Practical Constraints

As mentioned earlier, QB is ideal for small and mid-size organizations. By small or medium-sized companies, we mean any company that has the employee strength up to 20 and revenue less than 2 million USD. QB works efficiently with the company transaction data of nearly two years which is helpful to analyze the past and current reports. Users can compare the reports to evaluate their current standings.

Depending on the industry size, QB company files size may vary. More the size of transaction info, more the growth rate of the QB company file. Such transaction information usually includes transaction numbers, related links, and more.

The Condense Data Utility is the excellent troubleshooting method you can use if you are facing any trouble when you cross the limited number of list entries.

QuickBooks’ User Guide can help you learn more about Condense Data Utility. We suggest you go through this before you consider trying this method. Else, you can also connect with certified QuickBooks experts on the toll-free QuickBooks Support Phone Number +1-866-656-1012, and you will be guided on every doubt you have.

QuickBooks Point of Sale is undoubtedly one of the most powerful and versatile desktop accounting software. It makes tracking sales, inventory, managing customers easy and quick. You can also keep track of customer’s past purchases to determine their choice of brands and products. Sometimes QB POS users run into errors like the QuickBooks Error 176104, QuickBooks Error 2003, etc.

These errors occur on your screen because of improper firewall configuration on your computer. Firewalls are designed to track and restrict any process which is deemed a threat to the computer. But sometimes, a Firewall can consider a QB POS process a threat for your computer and restrict the connectivity between the server and client computers. Therefore, it is imperative to configure your Firewall for running QuickBooks Point of Sale.

If a firewall is blocking QB POS ports, these process won’t work:

• Electronic Funds Transfer – Intuit Merchant Services credit card processing.
• Database Server Manager – (Server installation only) Ability to connect and record transactions/changes to the company file.
• Intuit Entitlement Service – Product license and user validation.

Important: Log in as the System Administrator. You need Windows administrator rights to perform the steps given below in this article. For users who are using a third-party security application/software, remember to add the Firewall Ports along with Executable files that are crucial for running QB Point of Sale.

How To Configure Windows Firewall?

• Press the Windows key to open the Start Menu.
• Click on the search field and type “Run” and press Enter.
• In the Dialog box, type Control Panel and press Enter.
• Go to View by option, which is on the top-right side of the control panel. Click on Category and choose Small icons.
• Now, a window with different icons will appear on your screen.
• Look for Windows Defender Firewall and click on it.
• Choose Advanced Settings, then click on Inbound.
• Tap New Rule.
• Now, choose Port, then tap on the Next button.
• Type in the port numbers, then tap on the Next button (Check out Point of Sale Firewall Ports section).
• Here, select Allow Connection, then tap on the Next button.
• Provide a name for the firewall and click on the Finish button to complete the process.
• Also, create a new Outbound rule by performing the steps given above.

Point of Sale Firewall Ports

Executable files and their required ports

File Locations

How To Contact QuickBooks Tech Support Department?

To get immediate assistance for configuring your Firewall for QuickBooks Point of Sale, call on the toll-free QuickBooks Support Phone Number +1866-656-1012 or click on the QuickBooks Live Chat Support.

The QuickBooks ProAdvisors over here at supportforerror are all certified by Intuit and have over a decade of experience. They have assisted thousands of users over phone calls and remote connection. Get in touch with us today and experience our top rated premium QuickBooks Technical Support Services.

QuickBooks is one of the most efficient and powerful accounting and management software for MAC. Millions of small and mid-sized business owners and accountants all over the world use it. But sometimes while importing a .QBO file from a reputed financial institution or Bank in QB Mac, users run into QuickBooks Error OL-222 message:

“QuickBooks was not able to complete your request. Please contact your financial institution. (OL-222)”

QuickBooks Error Code OL-222 implies that QB did not get an appropriate response from your Bank’s server. In most cases, you will encounter the QB Error 222 because of a parsing error. When a .QBO file has one or more non-compliant characters; it creates a parsing error. Check out and follow the Open Financial Exchange (OFX) standard for exchanging financial data with QB to avoid such errors.

You can also face Error 222 of QuickBooks if the .QBO file is formatted incorrectly after downloading a Web Connect file from an approved bank.

Apply the steps given below in this article to manually resolve the QuickBooks Error OL-222. All the steps are easy to implement and do not require any prerequisites. But if you are in a rush and do not have the time to go through this entire content and perform the steps on your computer, contact the QuickBooks ProAdvisors.

Dial the toll-free USA QuickBooks Customer Service Number +1866-656-1012 to contact the certified QuickBooks ProAdvisors.

Solutions For QuickBooks Error OL-222

Apply the solutions given below for resolving the QB Error Code OL-222 or contact the QuickBooks Experts.

Solution 1: Update To The Latest Release

• You should update your QuickBooks to the latest release to get rid of the error 222 of QB. Follow the steps given in this article: Update QuickBooks To The Latest Release.
• Now, you need to Back up the QuickBooks Company file. We have created a detailed guide on how to create a Backup of the QuickBooks Company file. Read How To Create A Backup Of Your QuickBooks Company File for more information.
• Finally, you have to import the .qbo file once again. Check if this solution resolved the QuickBooks Error OL-222. If not, move on to the next solution.

Solution 2: Correct Invalid Formatting

If there are any invalid characters in the .QBO file, get rid of them. An example of an invalid character would be using “&” in the .qbo file. Open the file in Text edit mode and get rid of all invalid characters and you should be able to import the .qbo file without any problem.

If you need help with removing invalid characters, get in touch with the certified QuickBooks ProAdvisors of supportforerror. We will communicate with your Bank and make them aware of this.

QuickBooks works on the OFX guidelines that are set by the OFX Consortium.

QB will not import any .qbo file that does not follow the OFX guidelines.

Solution 3: Download A New FIDIR.txt File

Note: Create a backup of your company file prior to implementing this solution. Also, close your QuickBooks.

• Press and hold the Control key on your keyboard and click on the version of QB that you are utilizing for downloading the file.
• Go to Download QuickBooks For Mac and select Download Linked File As.
• Save it on your computer.
• Get rid of the old FIDIR.text.
  • FIDR # 1
    • Go to the Finder menu bar and hit it the option key.
    • Now, select Go and then Library.
    • Search the Download folder – Application Support/com.intuit.QuickBooks20XX/Downloads.
    • Get rid of the FIDIR.txt.
  • FIDR # 2
    • Go to the top menu bar and select Go.
    • Now, choose Applications.
    • Hit the Control key on your keyboard.
    • Choose QuickBooks 20XX.
    • Go to the contextual menu and click on Show Package Contents.
    • Now, double-click on the Contents folder and head to the Resources folder.
    • Look for “FIDIR.txt” file and delete it by moving it into the Trash.
  • Go to your downloads folder and copy the new FIDIR.txt file.
  • Paste the new FIDIR.txt file into the Resources and Downloads folder.
  • You should be able to import the .qbo file now.

Get QuickBooks Technical Support Service

If you need technical assistance in resolving the QuickBooks Bank Error OL-222 or you want to talk to the QuickBooks Experts, call on the toll-free QuickBooks Support Phone Number +1866-656-1012 or click on the QuickBooks Live Chat Support button.

We offer 24×7 QuickBooks Technical Support Services for all versions and editions of QuickBooks.

If you want to manage your day to day accounting or inventory tasks, there is no other accounting software better than QuickBooks. It has a very straightforward yet effective user interface and a plethora of advanced features. In this article, we will talk about the steps to reinstall QuickBooks.

If there is an issue within your QuickBooks or you are encountering an error while working on QB, then it is advised to reinstall QuickBooks. Reinstalling QuickBooks can resolve many errors and issues.

You can perform these steps to reinstall QB, or you can choose to get in touch with the Intuit certified QuickBooks Experts of supportforerror. To contact the QB Experts, call on the toll-free QuickBooks Customer Service Phone Number +1866-656-1012.

How To Reinstall QuickBooks?

Before you move on to the steps, make sure that you take a backup of your QuickBooks data. Now, to reinstall QB on your PC, firstly, you need to uninstall your current version of the desktop accounting software and then install it once again.

For technical assistance, contact the QuickBooks ProAdvisors.

Note: Keep your QuickBooks Installation CD, License number, and Product number handy while reinstalling QuickBooks.

Perform the following steps for reinstalling QuickBooks:

Step 1: Uninstall QuickBooks Desktop

• Press the Windows key on your keyboard to open the Start Menu.
• Now, click on the search field and type Control Panel. Press Enter.
• In the Control Panel window, go to Programs and Features and click on Installed Programs.
• In the List of Programs installed on your computer, look for QuickBooks.
• Right-click on QuickBooks.
• Choose Uninstall.
• Now, follow the instructions that appear on your monitor.
• If you run into any issue while uninstalling QB, contact the QuickBooks Technical Support Team.

Step 2: Rename The Installation Folders

There are two ways for renaming the installation folders on your computer. You can either choose to do it manually or use the feature to rename the folders in QuickBooks Clean Install Tool.

• Firstly, go to the official website of Intuit and download the QuickBooks Clean Install Tool on your computer.
• Save the QuickBooks_Clean_Install_Tool.exe file and open it.
• A prompt will appear on your screen.
• Select I Accept on the license agreement.
• Now, from the list of QB versions, choose the QB desktop version that you are using.
• Click on the Continue button.
• If you see the message, ‘QuickBooks is not ready for a clean install, please install to the default directory’, click on the OK button.

Now, for manually renaming the folders, you need to unhide all the hidden files. After unhiding the folders, rename folder location for each folder.

Tip: Add “old” or “damaged” to existing folder names to easily distinguish between the folders.

If you run into the “Error: Access Denied when renaming folders” message while renaming the folders, perform these steps:

• Press Ctrl+Alt+Del simultaneously on your keyboard.
• Task Manager will appear on your screen. Now, click on the Process tab, which is on the top-left side of the Task Manager window.
• Tap on the Image Name column header. This will automatically sort all the processes in alphabetical order.
• Look for QBDBMgr.exe, QBCFMonitorService.exe, Qbw32.exe.
• Select all three and choose End Task.
• If a warning message pops-up on your screen, click on Yes.

Step 3: Reinstall QuickBooks Desktop

After successfully uninstalling QuickBooks desktop accounting software from your computer, you can start reinstalling it. Make sure that you download the latest version of QuickBooks available.

How To Contact Intuit Certified QuickBooks Experts?

If you encounter any issue while performing any of the steps or you need to talk to our QuickBooks Experts, call on the toll-free QuickBooks Support Phone Number +1866-656-1012.

If you want to chat with the QuickBooks Support Department then click on the QuickBooks Live Chat Button and fill in your information. We will get back to you as soon as possible.

QuickBooks desktop accounting software is currently one of the top-rated accounting and inventory management software. But that does not imply that QB users do not run into errors or issues. Unfortunately, many QB users run into the QuickBooks Error C 1327 while installing this renowned accounting software.

In this blog post, we are going to talk about the QuickBooks Error C=1327 and its solutions. This error is categorized as an Installation error. You will run into the error code C=1327 of QB when you try to install QB from an installation CD. This error message will appear on your screen:

“The drive [drive letter] is invalid. OR Invalid drive [drive letter]”

You will also face this error if you were trying to install QB from an external USB device, but it somehow got disconnected while the installation process was running. You can attempt to reconnect the USB device and check if it restarts or resumes the installation process.

However, if you keep encountering the QB Error 1327 even after reconnecting the USB device read this blog post to the very end or contact the QuickBooks Experts of supportforerror. Call on the authentic USA QuickBooks Customer Service Phone Number +1-866-656-1012 to get in touch with the QB Experts and get technical assistance.

What Causes QuickBooks Error C=1327?

• The device that the user was using for installing QuickBooks got disconnected, or it is damaged.
• The user is trying to install QuickBooks on a computer on which the Microsoft .Net Framework is damaged or corrupted.
• Windows registry files are missing or damaged.
• Internal issues within the computer.
• Anti-virus or Anti-malware application installed on the computer is halting the installation process.

Steps To Resolve QuickBooks Error C=1327

The renowned and experienced QuickBooks ProAdvisors of supportforerror recommend the following steps for resolving the Error Code 1327 of QuickBooks:

Step 1: Reinstall and Repair the Microsoft .NET Framework

• Open Start Menu and go to Control Panel.
• Now, tap on Turn Windows features on or off.
• Provide user credentials like password and username.
• Search for MS .NET Framework 3.5.1 and uncheck the box in front of it.
• Click on the OK button.
• Reboot your computer to roll out the newly made changes.

Step 2: Run The Registry Editor

• Open Run command by pressing Windows+R simultaneously.
• Click on text field and type CMD.
• Press Enter.
• Command Prompt will open on your screen. Click below the blinking cursor and type regedit. Press Enter.
• Now, you have to follow this path: HKEY_CURRENT_USER\Software\Microsoft\Windows\CurrentVersion\Explorer\Shell Folders.
• Carefully examine the keys and look for the keys which are associated with the QuickBooks Error Code C 1327 in the registry editor.
• If any drive has incorrect names, change them to C:\.
• You must save the backup key on your computer.
• Now, Install the key on your computer.
• Reboot your computer to roll out the changes.

How To Contact Certified QuickBooks Experts In The USA?

If even after performing both the steps in your computer, you still encounter the QuickBooks Error C=1327, then contact the certified QuickBooks Experts of supportforerror.

Dial the toll-free USA QuickBooks Support Phone Number +1-866-656-1012 to contact the QuickBooks Experts. We are one of the top-rated third-party QuickBooks Tech Support providers based in New Jersey, USA.

You can also chat with the QuickBooks Experts by clicking on the QuickBooks Live Chat Support button on the bottom right corner of this screen. Get in touch with us to get immediate QB Technical assistance and support.

Are you trying to understand what are retained earnings in QuickBooks? We have received thousands of requests from small and midi-size businesses who wants us to explain what is retained earnings in QuickBooks.

In this blog post, we will cover everything there is to know about retained earnings in QuickBooks and also explain to you how does QuickBooks calculate retained earnings.

If your QuickBooks retained earnings account is missing or you are facing any problem with your retained earnings in QB, don’t hesitate and just give the Intuit certified QuickBooks ProAdvisors of supportforerror a call. You can dial the toll-free QuickBooks Support Number +1866-656-1012 to get in touch with the QuickBooks Experts.

Now, let us continue.

In QuickBooks Online, the online portal will display the profits that a company earned in a fiscal year and then reinvested the amount into the company as Retained Earnings.

QuickBooks Online is programmed to automatically transfer or move money into the Retained earnings account at the end of each year. Also, QBO will not generate any report unless and until you make other entries in the QuickBooks Retained Earnings account.

Now, if you wish to view what makes up the Retained earnings for your company or business, you can choose to run a Profit and Loss report. In this report, you can click on the view details button to see the Net Income (loss) amount.

In the QuickBooks Retained Earnings account, you can also view the total income and expenses of your company for any year. QBO will add the net income from the last financial year in the balance sheet at the beginning of a new financial year.

We hope that you understand what are retained earnings in quickbooks. However, if you are still confused then do not think twice before giving the QuickBooks Experts a call. You can also click on the QuickBooks Chat icon at the bottom of this page. Click on the Message field and type What are retained earnings in QuickBooks. Click on the submit button. You will get an answer for your question in the chat itself.

How To Find Retained Earnings In QuickBooks?

If you want to find retained earnings in QuickBooks for your company then simply keep reading. As we said earlier, the Retained Earnings account will contain all the information about your company’s or business’s income and expenses from all earlier years. But you cannot merely click on the Retained earnings in your Balance sheet for viewing the details.

Retained Earnings account is a massive collection of information for all the earlier financial year’s net profit or loss. So if you want to find retained earnings in QuickBooks then you must firstly run the last year’s Profit and loss statement.

Steps To Find Retained Earnings In QuickBooks

Step 1: View the Profit and Loss Detail report

• Open Reports and choose Profit and Loss report. Press Ctrl+F on your keyboard and type Profit and Loss if your unable to view the report.
• Choose All Dates in the Report period drop down menu.
• Click on Run report button.
• Choose Net Income amount if you want to view the Profit and Loss Detail report for All Dates.

Now, you will be able to view all the transactions that account for the net profit or loss. QBO automatically move this money into your Retained Earning account.

Step 2: View the Profit and Loss report by year

The QuickBooks Experts recommend that you run Profit and Loss report by year if you want to accurately track Retained Earnings for all the years.

• Open Reports and choose Profit and Loss report. Press Ctrl+F on your keyboard and type Profit and Loss if your unable to view the report.
• Click on Customize option in the open Profit and Loss report.
• Choose Rows/Columns in the customize report panel.
• Click on Year in the Columns drop-down menu.
• Choose Run report.

The report will display the year-by-year Profit and Loss amount transferred in the Retained Earnings. However, if you see mismatch between the Retained Earnings account for the current year and the Profit loss report, you should take a look at the account QuickBooks Report.

Step 3: Review the Retained Earnings account Quick Report

Follow these steps if you want to review the retained earnings account QuickBooks report:

• Click on Settings and then choose Chart of Accounts.
• Look for the Retained Earnings account.
• Click on the Action drop-down menu and choose Run Report option.
• Choose Dates in the Report period drop-down menu.
• Click on Run Report.

Now, a report will appear on your screen which will contain detailed information of user-created transactions affecting the Retained Earnings account figure.

How Does QuickBooks Calculate Retained Earnings?

To put it simply – retained earnings is a sum of a company’s undistributed profit over the years.

QBO will automatically transfer the annual profits in the retained earnings account at the end of the financial year. The company will pay the shareholders in terms of dividends and they will be subtracted from the profits. Now, the company will be left with retained earnings for the year.

We hope that we answered your question: How does QuickBooks Calculate Retained Earnings?

What Type Of Account Is Retained Earnings In QuickBooks?

QuickBooks will automatically create an equity account for your company. This account is called Retained Earnings. Also, QB will automatically transfer the balance from your company’s other accounts to Retained earnings at the end of the fiscal year. You can also decide the closing date for your business.

If you want to get in touch with us, call on the toll-free QuickBooks Support Phone Number +1866-656-1012.

It is possible to transfer credit from one job to another in QuickBooks. However, you must have either QuickBooks 2019 or QuickBooks 2020. These two versions support the feature of credit transfer.

If you are looking for the steps to transfer credit from one customer to another, you are on the right page. We will help you with all the required steps to get your job done. For additional support, you can contact QuickBooks Customer Service Phone Number on +1866-656-1012.

Note: Access to Charts of Accounts is mandatory for this process. Make sure you have the access.

• Open the invoice where you want to transfer the credit.
• Tap on Apply Credits. This will display all the available credits from different customer jobs.
• Select the required credit and hit the Done button.
• It will ask for confirmation of the transfer. Click on Yes, and it will finish the process.

The process of credit transfer is irreversible. Once you transfer the credit, you cannot get it back. It is important to think before you make alterations to the credit.

QB creates two general journal entries during this process. The information of these newly created general journal entries will show “Transfer of Credits for …” This is for your future reference. If you are doing the credit transfer for the first time in QuickBooks, an entry named “other current assets” is created by QB to transfer the credits. This entry is used only for credit transfers.

Steps To Transfer Customer Credit Manually

For the QuickBooks Versions 2018 and the earlier ones, a manual transfer and application of credit are necessary. To complete this process, you can follow the below-given steps:

Step 1: Set Up a Clearing Account

Please refer to set up a clearing account page where you will be guided with all the required steps to set up a clearing account.

Step 2: Make A General Journal Entry To Transfer Credit From One Customer To Wash Or Clearing Account.

• Click on the Company on the QB homepage. Then select Make General Journal Entries.
• Select the Account Receivable to transfer the credit to the required job.
• In the name section, select the customer job that you wish to transfer the credit from.
• Transfer the credit to the Clearing Account in the second line.
• Hit Save & Close.

Step 3: Connect The Credit With General Journal Entry

• Navigate to the customer menu and tap on Customer Center.
• Choose the required customer that is supposed to get the credit. Once you select that, tap on Transactions.

In case you are linking the payment:

Go to the transaction list and double-tap on the payment.

• Check the Journal Entry box.
• Hit Save & Close.

In case you are linking a credit:

Go to the transaction list and double tap on the credit memo.

• Tap on Use credit to apply to the invoice.
• Check the Journal Entry box and hit the done button.
• Save and close in the end to proceed.

Step 4: Create Another General Journal Entry To Transfer Credit From Clearing Account To Another Customer

• Select Company from the QB homepage and then click on Make General Journal Entries.
• Select the Account Receivable to credit the amount and complete the transfer.
• In the name section, select the required customer or job that you are moving the credit from.
• Use the clearing account in the second line to debit.
• Hit Save & Close.

Step 5: Transfer The Credit To The Unpaid Invoice

• Navigate to the Customers option and tap on Receive Payments from the dropdown.
• Choose the customer or job where you are transferring the credit.
• Check the required invoice from the list and then tap on Discounts and Credits.
• Select the required credit from the credits tab and then tap on Done.
• Then Tap on Save & Close.

Contact QuickBooks Tech Support

This article provides all the necessary information that you can use to transfer credit from one customer or another. Even if you are not a professional QuickBooks user, the steps are easy and simple to implement. However, it is important to be sure about doing this as credit transfers are irreversible. In case you have transferred credit by mistake, and you wish to fix it, you can connect with us at our toll-free QuickBooks Support Phone Number +1866-656-1012. We will ensure to get the right solution for you.