WebTerms and conditions, features, support, pricing, and service options subject to change without notice. WebDec 1, 2024 · by QuickBooks. • 1 • Updated December 01, 2024. It is common that for new businesses, the first financial year would last longer than 12 months. QuickBooks Online would automatically transfer the net profit and loss of the year to the Retained Earnings account, if the Balance...
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