Carrying Forward Balance Sheet Items

For some balance sheet items it is necessary to transfer the balance of an account to another account at the beginning of each new year. Making all of these postings can be tedious and it is easy to miss one.

Acumen allows you to specify a carry forward account for any balance sheet item. If you specify a carry forward account for an item that is not the parent of another statement then Acumen will create a journal batch containing the postings to move these balances for you. All you need to do is process the batch.