opening entries

finder · 2006-09-19

Hi,

I wanted to find out some information how to enter opening balances for company who starts with Navision. I found from this forum that there should be an extra document called "opening entries.pdf" but I wasn't able to find it (looked also from partnersource). Can anyone suggest where I could find this document.

Thanks in advance,
Anti

ssingla · 2006-09-19

Dear Friend,

Opening balance of G/L , AR and A/P can be uploaded from the General Journals. Opening balance of Inventory needs to be loaded thru Item Journal and Fixed Assets by FA Journal.

If you require any more specific details then you can mail me at sunny_1071@yahoo.co.in.

kine · 2006-09-19

I think that in most cases it is company know-how and it is not common to share this "know-how".

ssingla · 2006-09-19

Dear Kine,

100% agree to ur observation but I think I can help a new navision player with some dataports and excel sheet templates which do not have any data in them.

Data is company specific but the template I have created for ease of my work can be shared across.

kine · 2006-09-19

Of course, you can, I am not writing that it is wrong and it is on you. I posted that in time when I haven't seen your answer. And I am happy that you offered your help. I just wanted to warn Finder that there is not high possibility of exact and detailed answer for his question.

finder · 2006-09-19

Hi,

To ssingla: thanks for your reply and advice. I thought also to enter starting balances through the journals but should I enter all the opening entries to the ledger without corresponding accounts or just create one new corresponding account (which amount should be 0 at the end).

To kine: My idea was just to understand better possibilities that Navision offers in entering starting balance (not to get any company-based information). And as I saw mentioning this document I supposed it is for public use (but seemed to be wrong

kine · 2006-09-19

It is just a misunderstanding. I never think about that you want to get some company-based information. Sorry, may be that I wrote it in a wrong way... :-k

And what I know from my consultants, you need at least one account which will be used as balance account for all your opening entries (you still needs to have balanced Debit/Credit). May be someone with more accountant experiences can help more with that.

ssingla · 2006-09-21

Dear Finder,

Kine is right we should use One G/L account for opening balance , the balance of which will be zero at the end . At the time of uploading the opening balance of G/L , total the amount of Fixed Assets, its accumulated Depreciation, Customer & Vendor and post it in that G/L account.
At the time of uploading the balance of F.A. , Customer & Vendor give this G/l account as balance account.

The opening Balance is now ready.

finder · 2006-09-22

Thanks, I will follow your advice.

opening entries

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