Should I create new business for each Financial Year?

1

Should I create a separate new business for each Financial Year. like XYZ Pvt. Ltd. (2018-19) then XYZ Pvt. Ltd. (2018-20).

If I do so, how would I get the total (accumulated) profit/loss? I’m using starting balance as the cleared balance from last year.

2

No. Read this Guide: Close an accounting period | Manager

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3

Ok, I now I understand.