I’m finalising my year end accounts with my accountant, but have also revisited my accounts / trial balance for 2015 as well as 2016 to check my postings were correct.
I’ve made some journal changes that were identified by my accountant, but he has identified that I have a net profit from 2015 which he’s carried forward in my 2016 TB as an opening balance.
OPENING TRANSACTION CLOSING
CODE DESCRIPTION DR CR DR CR DR CR BALANCE
3200 Profit and Loss Account 70,517.83 70,517.83 -70,517.83
My question is, how do I get the posting of the carried forward net profit from the 2015 year into the starting balance in the 2016 figures?
If I do this as a journal, where do I transfer from / to - so that it shows in my 2016 TB nominal code 3200 P&L Account?
Any help appreciated! Apologies