Can someone please help me with information on how to close the financial year and transfer balances to a new fiscal year?
many thanks
As the Forum’s FAQ/Rules demand, you should have consulted the guides and searched the forum before starting a new topic. This has been discussed already several times and it’s clearly explained in the corresponding guide.
It’s also a question that doesn’t belong to this forum but to a forum about accounting basics, e.g. https://www.accountingcoach.com/, or consult a local accountant.