Copy opening balances

[Ivana]

Hello everyone!

We are at a year-ending process. We want to copy ending balances from 2008 to opening balances for year 2009. After we had run Company->Copy->Opening Balances For Reported Values, we ran Company/Group->Copy->Company/Group Journals Between Periods, with year-ending rules included. In Data Entry – Company/Group Journals  window we get opening balances, as needed. This works fine. But now, we would like to enter new bookings, bookings for year 2009, on those same accounts  (as we did in year 2008, same accounts only with different amounts), and we are not sure how to do that. That is, we are not sure is it allowed just to add rows with flows from the previous year? If so, do we need manually change amount on the main account also (since it does not sum up automatically), is this allowed? Please, what is the best practice from your experience?

Thanks in advance!

Best regards,
Ivana

[Conoscenti]

Hi Ivana,

When journals are copied forward they exist independently from the prior periods.  This means you can change them if necessary although best practise would be to create new journals for the current year.  You cannot, as far as I am aware, have the multiple rows in a journal for the same account which would prevent you from addings rows to the same acount for each financial year.  Controller also does not appear to have the concept of journal templates which is really what you're looking for.  One solution could be to create a journal template in Excel, save it as a csv, and to import it into Controller using the Transfer > External Data > Import from General Ledger Journals option.  This would enable you to open the journals and amend the values.

[Ivana]

Hi,

thank you very much for your reply! This was a very helpful information for us!

Best regards,
Ivana