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Anyone working on Carry Forward closing balance of previous financial year to opening balance of current financial year.
It should reflect in balance sheet and general ledger
i think it is missing part and need to add it
When a firm ends an accounting year and it takes the closing balance - the last balance in the accounts at the year-end - and carries it forward to the new financial year accounts. It then becomes the opening balance - the first entry in the new financial year.
I used the general journal on double entry and it has helped me
Hi @Philippe Yeung, I am having a problem where Retained Earnings account does not appear in the Balance Sheet report. May I know how did you settle this using double entry app?
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