Hello, I created company new fiscal year and closed income/expense accounts. Have been working in both years and now the outside accountant gave me year end adjusting entries which I have now posted. I am attempting to close the current fiscal year and I receive message to close income/expense accounts which makes sense except when I take a look at the trial balance all accounts now have the adjusting entry amts included already. If I run close inc/exp..won't that affect the retained earnings amount balance which appears to be correct at the moment? Should I have closed the current year and then posted the adjusting entries to prior year? I remember always closing after entries from accountant.