How to automatically carry forward the previous year’s closing balances as next year’s opening balances?
As the financial year ends, you will have to carry forward the closing balances of your Assets, Liabilities, and Capital accounts to next year’s opening balances.
To do that, just go to Business Settings > Advanced Accounting Options > Sync Opening Balances Across FY > Configure:
Then select the next financial year from the dropdown and click “Sync Balances”:
Once done, closing balances of your Assets, Liabilities, and Capital accounts will automatically carry forward to next year’s opening balances of the respective ledgers.
For Example, in the following ledger account, the closing balance of FY ‘24-’25 gets carried forward to FY ‘25-26 as the opening balance:
That's it! If you still have questions, drop an email to care@refrens.com OR message on live chat support for quick assistance!
Updated on: 10/07/2025
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