1. From the 'Accounts' drop-down menu, select 'Equity Name Changes'.

2. In the 'Equity Name Changes' window, change the Accumulated Prior Years' NET INCOME to 0. This will allow it to roll up to NET INCOME-beginning on the report.

For Splitting Entities in the Same Year:

1. Make sure to first back-up your Entity through the 'File' drop-down menu.

2. From the 'File' drop-down menu select 'Save As'. Create a folder for this new data with the desired name of the new Entity.

This will have essentially made a copy of your previous Entity. Now you can 'Begin a New Year' and select the month you wish to start the year. Doing so will erase any transactions that have occured so far, this year, in the copy.