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How do I bring in opening balances?

Post the closing trial balance of the old system as one or more General Entries dated the day before go-live, in an open Operating period. Customer, vendor and stock balances are usually loaded through their own modules so their details exist; the general ledger part then holds the rest.

Screen
General Ledger › Controlling › General Entry (import allowed)
Who
The implementation consultant with the chief accountant
Takes effect
On save
Needs first
The ledger, the accounts, a Financial Year covering the date

Steps​

  1. Decide the date. The day before go-live. A Financial Year must have an Operating period covering it: documents never post into the Opening period.
  2. Make a clearing account such as Opening balance suspense, released with Manual Entry ticked.
  3. Post one voucher per area on General Entry, or import them: fixed assets, bank and cash, other balances. Each balances against the clearing account. Fill the dimensions the accounts require.
  4. Customer, vendor and stock balances go through their own modules (see the receivables questions for customers, How do I move in opening balances? for payables, How do I bring in opening stock at go-live?) so each invoice and item is known. Their vouchers also hit the clearing account if their posting profile points there.
  5. Check the clearing account is zero on the Trial Balance.

Check it worked​

  • The Trial Balance on the go-live date equals the old system's, and the clearing account is nil.

If something looks wrong​

  • "Line ID: ... - Gl Account ... is not valid in ... Date" The account's Date From is after the opening date.
  • "Manual Entry is not allowed on Account: ..." A control account: load it through its module, or tick Manual Entry for the load and untick it after.