How do we fix negative zero-out retained earnings in QuickBooks wizxpert.com

QuickBooks creates an equity account called "Zero out retained earnings in QuickBooks" automatically when you create a new firm. To make sure that only relevant transactions are included in your current year's financials QuickBooks will sweep balances from other accounts into this one based on the date of your financial year's close. Because it could enable you to determine how well your company is performing for the given period this accounting function is crucial. The Retained Earnings Account maintains track of the money available for expenses related to purchasing new equipment or making payments to owners and partners.