---
title: "How can I alter the opening balances in prior financial periods in BUSY"
description: "How can I alter the opening balances in prior financial periods in BUSY"
canonical: "https://busy.in/faqs/alter-the-opening-balances-in-prior-financial-periods-in-busy-answerid-48519/"
---

# How can I alter the opening balances in prior financial periods in BUSY

Certainly, here are the steps to update master balances in the current financial year (FY) using the Update Master Balancesutility and then carry forward the balances to the next FY using the Change FYprocess in accounting software:
Step 1:Access your accounting software and log in with administrative or appropriate user credentials.
Step 1 :Look for the Update Master Balancesor a similar option. This utility is typically used to adjust or correct balances in the current FY.
Step 3 :In the Update Master Balancesutility, you may need to specify the parameters for the balances you want to update.
Step 4 :Find the Change FY process. This process is used to transition from the current FY to the next FY.
Step 5 :In the Change FYprocess, specify the start and end dates for the next FY.
Step 6 :Within the Change FYprocess, you should see an option to carry forward balances from the current FY to the next FY.
STep 7 :The software will carry forward the balances from the current FY's closing balances to the next FY's opening balances.
Step 8 :After completing the FY change process, review the results to ensure that the balances have been correctly carried forward.

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