When you use Express Accounts’ default Chart of Accounts the software provides the standard equity accounts (including Retained Earnings / Owner’s Equity) so you don’t have to add one manually.
What you should check now...
Open View → Chart of Accounts and look for a Retained Earnings, Owner’s Equity, or Current Year Earnings account; if present you can leave it.
If it’s missing and you want standard year‑end carrying of profit, create a new equity account named “Retained Earnings” (or similar) using the New account dialog.
Review the program’s Close/Close‑to‑date function in Accounts to confirm whether Express Accounts is set to perform automatic closing entries or if you need to do a manual year‑end entry.