There are two accounts within the general ledger to which you cannot post any transactions, nor enter opening balances for. They are the Historical Balancing and Current Year Earnings accounts.
There is also an account to which you cannot post any transactions, but can enter an opening balance for in the first year that you use Jim2. That account is the Retained Earnings account.
Historical Balancing Account
This account is the difference between your opening balance assets and liabilities. This account shows that your assets and liabilities did not balance when entered. This account will change each time you change an asset or liability opening balance. It will also hold a negative figure offsetting any profit & loss opening balances entered, if starting Jim2 mid financial year. See here for information on clearing this account.
Profit and Loss Accounts
Opening balances can only be entered if you are starting Jim2 after the traditional start of the financial year. These figures will add a balance into the Current Year Earnings account, and also a reversing figure into the Historical Balancing account, as these opening balance profit & loss figures should already be within the balance sheet accounts.
Current Year Earnings Account
This account holds your profit or loss figure from your transactions and any opening balance entries. This account figure is calculated continually as each transaction relating to the profit & loss accounts is entered.
Retained Earnings Account
This account is for your last year's profit or loss figure. This account will need to be manually updated for your first year using Jim2. From then on, whenever you close a financial year, the profit or loss calculated in your Current Year Earnings account will be moved to the Retained Earnings account.
Further information: