Hi Schhetri
Both the desktop app version and the online browser version of AccountRight work the same in this front, the balance of your current-year earnings account is transferred to your retained earnings account when the financial year is closed, and you can still enter transactions in the closed financial year if needed.
I'd suggest checking out these two Help pages for more details, if you have any further questions please feel free to let us know:
Close the financial year (desktop app)
End of financial year in Australia (browser)
