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Dynamics 365 Community / Forums / Microsoft Dynamics SL (Archived) / How to handle Opening ...
Microsoft Dynamics SL (Archived)

How to handle Opening Balance in Microsoft Dynamics SL

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Posted on by Bee Chen Goh 35

Hi, currently we have 2 companies that operated for more than 5 years and now we would want to close the company A and moving all the accounts to Company B.

My question is how to handle the Opening Balance in AR, AP and Inventory?

Thanks,

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  • Carolyn Kolpien Profile Picture
    Carolyn Kolpien Microsoft Employee on at

    Hello Bee Chen Goh,

    For Inventory, you could create a receipts batch and establish beginning balanes for the inventory items.  In AR create Invoice and Memo batches and in AP, create Voucher and Adjustment batches to create opening balances for customers and vendors.  You could create a journal entry to bring over account balances.  You wouldn't need to post the batches from IN, AR, and AP if the balances in the GL already account for these items.  You could delete the batches when they arrive in GL for posting.

  • Suggested answer
    Laurie Sweeney Profile Picture
    Laurie Sweeney 577 on at

    I typically just enter the unpaid invoices in both AR and AP and post them to the AR and AP control account in GL.   In this way, you won't double up on the transactions when you enter the opening GL balances.  

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