When creating a new year, you have carried forward your final balances from the previous year, as the opening balances for the new year, but there is a difference between your previous year final balances and your new year opening balances, because you haven't assigned your profit/loss to any account.
Refer to the End of the Year closure and New Year page for further information.
Causes
- The amounts indicated in the dialog box are not equal to the sum to be allocated.
- The Chart of Accounts is not set up properly.
- An account, with a balance in the previous year, is missing in the New Year.
Solutions
- Repeat the operation, entering all amounts so they can be allocated properly.
- Correct your Chart of Accounts (also see Check accounting) and repeat the operation.