Balances transfer from old PC to New PC

Hi  Guru's

Here my client is using New GL's, Now the user want to change the default profit center from old profit center to new profit center in t.code FAGL3KEH level.

Here the thing is, they are maintaining default PC only Balances Sheet accounts  , and for those  accounts they have been activated Open Item Management, Reconciliation accounts(K,,D,A) and Post automatically check box.

In this case can we transfer  all the balances from old PC to new PC ? Creating  Distribution cyclesusing  t.codes --- FAGLGA31 And FAGLGA35

If it's yes how, if not which is the way to transfer the balances from old to new PC

Kindly help it is very needful

Thank you

Ramesh