I am a sole proprietor. My Balance Sheet is reflecting two Net Income entries.
The first Net Income entry seems to be generating from Quickbooks automatic year end closing entries that has created a negative amount.

The second Net income appears to be the normal income/ expense P&L entries for the month.
Why is the Balance Sheet generating two separate Net Incomes?

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Originally Posted by Ronzwyf

I am a sole proprietor. My Balance Sheet is reflecting two Net Income entries.
The first Net Income entry seems to be generating from Quickbooks automatic year end closing entries that has created a negative amount.

The second Net income appears to be the normal income/ expense P&L entries for the month.
Why is the Balance Sheet generating two separate Net Incomes?

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I have not seen this problem, I suggest you backup your data and reload the software