Copy profit/result of the closed financial year to the next financial year

You can copy the profit/result of a closed financial year to the next financial year.

The result from the P&L (cost and revenues ledger account) is shown on one account. You have set this account on the Balance sheet tab via Financial / Management / Administration settings.

If you want to distribute the result across multiple accounts, proceed as follows:

  1. You write off the profit using a general journal entry or opening balance entry and enter it in the reserves. This is a manual entry.
  2. If this only concerns reporting, you can choose to transfer the result balance per year and to display it on another account, such as the VAT balances. You can set this up by using the deviating balance sheet account.

Directly to

  1. Year-end transition Financial
  2. Automatically extend the period table years
  3. Block a fixed assets financial year
  4. Recalculate cumulatives
  5. Set the opening balances of the VAT accounts for the new year to zero
  6. Check the VAT declaration and VAT account balances
  7. Check the debtor and creditor summary account balances in the extended column balance or trial balance
  8. Check the voucher and invoice counters