Sure. For all the Balance Sheet items, the balances of these accounts are
just carried forward to the new fiscal year, along with account assignments if
any. This also true for customer and vendor accounts.
In the case of Profit & Loss accounts, the system carries forward the
profit or loss (in the local currency) to the Retained Earnings account, and
the balances of these accounts are set to 0. No additional account assignments
are transferred.
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