Topic: After Closing FY, All profits added into Expenditure Account
can you please help me for this issue, i have closed my FY such as 01-07-2017 to 30-06-2018,
and company made e.g 1000 + profit after (income - expenses like 11,000 - 10,000)
when we closed the FY 2018, this profits 1000 transfer to B/S as Retain Earning (Current Year)
and also this profit added into Expense Side which equals the balances like (11,000 - 11,000) which means no profit earns?
how can we encounter the issue?