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Dynamics 365 Community / Forums / Small and medium business | Business Central, N... / Opening Balance Customers
Small and medium business | Business Central, N...
Suggested Answer

Opening Balance Customers

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Posted on by Y_A 395

Hi,

We are in the process of moving data from one NAV company to another i.e. we need to move G/L balances & Customer Balances from Company A to Company B. 

Could someone explain better what is the best way to post customer balances, please? How should entries be posted to make sure that the Accounts Receivable account in the Customer Posting Group setups is affected correctly? 

We were planning to do as follows;

Company A : Debit  Company A Suspense Account, Credit Company A Customer. 

Company B : Credit Company B Suspense Account, Debit Company B Customer. 

Is this the correct approach? How will the balance in the suspense account balance out, then? 

Any help is greatly appreciated. 

Thank you! 

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  • Suggested answer
    JAngle Profile Picture
    JAngle 133 on at

    I have a tendency to follow these steps for customer balances:

    The following highlighted fields should be populated by the customer in preparation for the Open Customer Ledger Entries import:

    1. Account No. - Customer No.
    2. Document Type Options: Invoice, Payment or Credit Memo
    3. Document No. i.e. original invoice no., credit memo no. or payment reference no. Each line should represent a document and duplicate document no. is not allowed.
    4. Description - document description (Maximum characters 50)
    5. Currency Code will be left blank, if the document is in local currency.
    6. Amount - document amount in the specified currency.
    7. Amount (LCY) - document amount in the local currency i.e. GBP.
    8. Due Date - invoice due date.
    9. Document Date - the date the document was posted.
    10. External Document No. - Customer purchase order no. if available.
    11. Balance to the suspense account
    General Notes
    • Sum of the Amount (LCY) field should equal to the control account balance in the G/L Account.
    • Suggestion: Open customer ledger entries in the existing system could be used as the source data.
    • The following table:
    IF THEN
    Document Type = Invoice the Amount and the Amount (LCY) field should be a positive value
    Document Type = Payment or Credit Memo the Amount and the Amount (LCY) field should be a negative value
    Steps
    1. Import the journal lines using the configuration package
    2. Select the line in the configuration package > Functions > Apply Data
    3. Open General Journal
    4. Use Reconciliation function to review the effect of the journal before posting.
    5. Post the journal

    Expected Output
    Aged Accounts Receivables report will be saved to .pdf format for opening balance reconciliation. 

  • Suggested answer
    CarmenNunes Profile Picture
    CarmenNunes on at

    Hello

    To close Customer entries from company A to company B you can proceed as you mentioned:

    Company A : Debit  Company A Suspense Account, Credit Company A Customer.

    Company B : Credit Company B Suspense Account, Debit Company B Customer.

    Nevertheless recall that this procedure only close Customers entries, you will also need to close Suspense Account Balance used in the previous step.

    Balance of  Suspense Account should be closed with G/L accounts of  Sales and VAT (via General Journal entries) related with that Customers entries.

    Hope this help you.

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