My preference is to move this amount into the "Retained profit" account by adding a new transaction dated on the first day of the financial year.
We make consolidating your super simple with our quick paperless online process.
It gives you more freedom and flexibility when you are starting a new job.
Most employees can choose where they want their super to go, but not all employees are eligible.
Consolidating the financial year in Easy Books locks the period to prevent changes in that period and the Profit and Loss report shows the next period automatically. You can undo a previous consolidation quickly and easily from the Profit and Loss report, just tap Undo Last Consolidate.
You can make any changes you need to and consolidate again later.