Opening entries in MS Dynamics-NAV 4.0

Deep

Hi all.

Please let me know how can I do opening entries in NAV.
I have all the g/l balances with me. But the problem is how can I update the opening balances of individual customers and vendors. We can do it for FA by deactivating integration with G/L. But I am unable to get how can I update the customers and vendors as entering them again after posting the Trial Balance balances will create problem of duplication in the A/R and A/P balances.
Please help me out.

David_Cox

Solution 1:
Then create a Sales and or Purchase Journal, enter your open document types, Document Numbers, External Document Number, posting date, document date, Remaining Amounts ect: to match the old system, then Check the direct posting flag on the control accounts, and use the Payables or Receivables Account number from the Posting Group for the Customer or Vendor, as the Balancing Account, per line.

When you post the journals the Net Change is 0 for each line both sides in the control account, thus the control accounts balances are unchanged and the Customer and Vendor Ledgers are populated with the opening documents.

Solution 2:
Follow the above but do not check the Direct Posting on the G/L Accounts.

Use a suspense account instead, balance to the suspense, and temporarily change the Payables and Receivables Accounts on the Customer and Vendor Posting Groups, to the suspense account, this has the same effect as the Solution 1, 0 impact on the G/L Suspense Account, but Customer and Vendor Ledgers are Created.

Remember to reset any changes to Direct Posting or Posting Group Accounts.

Deep

Thanks David.
But just let me know one more thing that at the end of all updations, how can we nullify the suspense a/c.
I doubt that all the debits and credits posted with the help of suspense as a balancing a/c will not be equal at the end!!!

I m stucked :-k

kriki

[Topic moved from Navision Financials forum to Navision forum]

David_Cox

Deep wrote:

Thanks David.
But just let me know one more thing that at the end of all updations, how can we nullify the suspense a/c.
I doubt that all the debits and credits posted with the help of suspense as a balancing a/c will not be equal at the end!!!

I m stucked :-k

Read the post again, the Suspense will be zero.

First the G/L opening entries, Balance Sheet and Income Statement (P&L), when you post these balanced to a suspense account, the Net end result in the Suspense should be Zero, if not something is wrong!

Open AR & AP
You Change the Customer and Vendor Posting Groups, Control Accounts to Suspense.
That is Payables Accounts and Receivables Accounts = Suspense.

Balance the Sales and Purchase Journal to Suspense as well.

Customer or Vendor balanced to Suspense, so when you post the Open Documents BOTH sides in the G/L go to the same Account (Suspense), resulting in Zero.

Then change back the Posting Groups Payables and Receivables.

Hope this is now clear ?? :?:

I am not an accountant, but I am sure this proceedure is correct, unless anyone else has a different way :?:

ssingla

There is an other option also.

Total the amount of AR and AP and post this account to a new G/L Account i.e. Opening Balance/Suspense Account. On uploading the opening balance of the G/L the net balance of ar/ap will stand in this G/L account. Then upload the balances of customer and vendor in the General journal bill wise or as u like and give this suspense account as balancing account resulting in zero balance in the suspense account.

Deep

Thanks a lot David an SSingla.

I am trying your solutions. Hope this will work.

David_Cox

ssingla wrote:

There is an other option also.

Total the amount of AR and AP and post this account to a new G/L Account i.e. Opening Balance/Suspense Account. On uploading the opening balance of the G/L the net balance of ar/ap will stand in this G/L account. Then upload the balances of customer and vendor in the General journal bill wise or as u like and give this suspense account as balancing account resulting in zero balance in the suspense account.

[-X

This will not work when you apply date filters etc:, and you will have entries twice if loaded one to one then a single reversal for all entries, the only other way I can see is to exclude open AR & AP control entries when posting to the G/L and balanced to suspense, then you can post the Open Documents normally balanced to suspense the result is that suspense will be zero, but this has problems with part paid item.

Deep

Yeah David!!! It worked. I got the accounts populated with the help of suspense a/c and the suspense went null.

Now please let me know how can I post the inventory cost and value individually, for raw materials, WIP and finished inventory.

David_Cox

Deep wrote:

Yeah David!!! It worked. I got the accounts populated with the help of suspense a/c and the suspense went null.

Now please let me know how can I post the inventory cost and value individually, for raw materials, WIP and finished inventory.

If you are bringing on stock and that the value is already included in the G/L?, then its more of the same, use the suspense account to post both sides.

I would do some test posting in Cronus, see what happens where, then step by step change the Accounts to Suspense, post and change them back.

Then do the same on the QA or UAT database, when happy go live!!

I am a developer more than implementor, so others may guide you better, on this one.

santhanak

hi david

can u able to guide me how to create a opening balance for fixed assets

& how to enter the book value of an asset & so on...


thanks & regds

Santhanakrishnan