What is the procedure to update master balances and carry forward accounts to a new financial year?
To update master balances and carry forward accounts to a new financial year, first take a backup of all financial years. Then, go to the housekeeping option and select 'Update Master Balance'. After this, change the financial year and carry forward the balances. If there are any issues with the balances, go back to the previous year and update the balances before carrying them forward.