Properly Closing a year in Gnucash for a business

[Patrick Scott]

I apologize in advance is this is a repeated or simplistic questions, but I am trying out gnucash with my new consulting business.  Based on what I read I saw recommendations to transfer the net profit amount to retained earnings and zero out all the expense and income account and start the new year.  Can some one give me step by step on how that is done.  For instance the P&L report that I generated shows a $500.00 net profit, what account to I transfer that amount from in order to put it into the retain earnings account.

Regards,
Patrick Scott