Do optimum has closing of financial account. so that can close the financial year end and save it. The new set of account with Brought forward amount for each account can have a new record as opening amount.
One of the QNE features is to support unlimited financial periods, the system will calculate and cut-off automatically according to the financial period setting and bring over the opening balance when you view the respective accounts/ledger and financial reports accordingly.
Thus, QNE do not require to perform year end closing. However, you can lock the periods and prevent the user to modify the past records in the previous financial period.
You can visit http://qnehelp.azurewebsites.net/ValidPostingPeriods.htm for more information about Valid Posting Periods.