How do I enter the previous year’s profits in Zoho Books when I’m migrating to Zoho Books from another software?

If you’re migrating to Zoho Books from another software, you can enter the previous year’s profit as opening balance in the Retained Earnings account. Here’s how:

• Go to Settings on the top right corner of the page.
• Click Opening Balances under Organization.
• Click Edit at the top.
• Scroll down to Equity and enter the previous year’s profit as a credit entry in Retained Earnings.

• Click Continue.
• Verify the opening balance and click Confirm.