1. An amount of money, credit, or loss that is transferred from one accounting period to the next.
Usage: accounting; finance

1. To transfer an amount from one account, period, or document to another.
Usage: accounting; finance

Examples

• The company had a tax loss carryforward of $50,000 to apply against next year's profits.
• We need to carryforward the balance from last quarter into this quarter's report.
• The accountant will carryforward any unused credits to the following fiscal year.
• A carryforward allows businesses to reduce future tax liability.
• Make sure to carryforward the opening balance before entering new transactions.
• The budget carryforward from the previous year helped fund the new project.