Bookkeeping Basics: Understanding Retained Earnings

Episode 36 of the Gentle Frog’s Bookkeeping Lily Pad podcast, hosted by Rachel Barnett, titled "Bookkeeping Basics: Understanding Retained Earnings" was published on March 20, 2025 and runs 2 minutes.

March 20, 2025 ·2m · Gentle Frog’s Bookkeeping Lily Pad

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Summary

What exactly is retained earnings, and how does QuickBooks Online handle it? In this short bookkeeping basics lesson, Rachel Barnett breaks down how retained earnings work, where to find it on your balance sheet, and why you don’t need to manually update it in QuickBooks. She also explains what a positive or negative retained earnings balance means for your business. Whether you're a bookkeeper or a small business owner, this quick explanation will help you understand this important accounting concept. Tune in and learn something new today!

Episode Description

What exactly is retained earnings, and how does QuickBooks Online handle it? In this short bookkeeping basics lesson, Rachel Barnett breaks down how retained earnings work, where to find it on your balance sheet, and why you don’t need to manually update it in QuickBooks. She also explains what a positive or negative retained earnings balance means for your business. Whether you're a bookkeeper or a small business owner, this quick explanation will help you understand this important accounting concept. Tune in and learn something new today!

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