Closing Balance Carry Forward Functionality

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?