Fiscal year end is 30Sep2021. Started a new set of books but instead of entering starting balances on last day of previous fiscal, they were entered first day of current -1Oct2020. Books also were set up with starting date 1Oct2020. So now I need to close out the revenue and expense accounts (the starting balances) to retained earnings. Unfortunately I'm seeing the only now, after posting and reconciling all transactions from 1Oct2020 to current.
Can I make a journal entry to close rev/exp to retained earnings prev year?