shergill-ca
Level 1

2018 was my first year using quickbooks. I have the S Corp. I took out 50% in payroll and 50% as a shareholder distribution paid through bank transfer and a net profit in 2018. Net profit went to retained earning and reflects as a retained earning in 2019. However, shareholder distribution from last year is still showing up in the balance sheet of 2019. How would I zero out last year's shareholder distribution in the quick books? 

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