Quick Books Sole Trader

Capital Account

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I have been using Quick Books 8 for a few years for the very few clients whose accounting affairs have become too burdensome for a hand-written Accounts Book.  Whenever I look at the "Equity Account", I see that it doesn't take the format of old traditonal book-keeping of:

Balance - Brought Forward

Add: Net Profit (and other categories)

Less: Drawings (and other categories)

Balance - Carried Forward

Can anyone advise me of the key-strokes that are needed to convert "closing the old year" into the "opening balance" for the next year, please?

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RLI
By lionofludesch
27th Jul 2016 11:53

I'd journal them over from separate Drawings and Capital Introduced accounts.

Bit of a fag but - hey - it's once a year.

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Scalloway Castle
By scalloway
27th Jul 2016 12:50

I'd do journals as well.

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