From Odoo 19 onward, year-end is no longer “patched” by parking Prior year earnings as a drawer. In this video Albert walks a database that started in 2025, with a 2024 opening, and zeros account 129 so the next year carries retained earnings in 120.
If when you open 2026 a 129 appears that does not match form 200, start here.
2024 profit
in the demo opening
on 31/12, not 1/1
result to retained earnings
the full video
step by step on a real database
What is wrong if you mix 120 and 129
Account 129 is the result of the current year. Account 120 is retained earnings from prior years. If the opening was posted against 129, the next year’s opening balance sheet shows “prior year earnings” in the wrong account.
In the demo: a company that starts Odoo in 2025, with a 2024 opening. 12.113 € of profit parked in 129.
2025 opening: the 12.113 € from 2024 show as prior year earnings.
The 31/12 entry
Date: 31 December of the year you close, not 1 January. Take the 129 balance and move it to 120.
Debit 129 · Credit 120. Same amount. Post it. That year’s 129 goes to zero; the profit now lives as retained earnings.
What you see when you open the next year
In 2025, after that entry, retained earnings (12.113 €) sit in 120. The current-year result (2025’s 129) is something else: do not mix them.
Albert resets the entries so you can see the reason for each one. It is not automatic year-end magic: it is a conscious, traceable journal entry.
2025 already open: 120 holds 2024 profit. 2025’s 129 starts clean.
Check it on the trial balance
The report must show 120 with history and 129 only with the year. If the two mix, form 200 and year-end will lie to you.
When you close 2025 (and open 2026)
Again on 31/12: 2025’s 129 moves to 120. The old retained earnings (the 12.113 €) stay. Do not “eat” them again.
In the demo, when opening 2026 account 120 carries the 12.113 plus 2025’s result (in the video, around 185.000 €). Figures from that database, not yours.
2026: prior years already accumulated in 120. The new year’s 129, at zero.
Recap: 31/12, 129 to 120. History stays in retained earnings.
Year-end stuck in your database?
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