How to upload opening balances for GL, AR, AP, and Inventory ?

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Posted on by Ola Darwish

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How can you upload opening balances in all areas in dynamics financials?

I used the Migrate business data templates to upload the chart of accounts, Customers and Vendors and item. but now need to bring over the balances

Also, for the master data templates provided through the migrate business data under assisted setup doesn't have all the fields for customers, or Vendors, or items. how can I upload the remaining fields too

Thanks

Ola

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Data Migrations

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Tammy Torgerson on at

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Hi Ola,

It will be necessary to manually create transactions in Financials for these beginning balances. The balances for Customers, Vendors, and Items can be entered using the Sales Journals, Purchase Journals, and Item Journals respectively. Or the Customer and Vendor balances, along with the Account Balances, can also be entered in the General Journals.

The Edit in Excel functionality in the Customers, Vendors, Items pages can be used to update a majority of the columns/fields for these master records.

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Community Member on at

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Hi Tammy, I get a "Data object not provided" error when I try to publish in the "Edit in Excel" function for lists other than the Customers, Vendors, Items lists (e.g. when I try from the chart of accounts). Is this to be expected?

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ikoletic 2,202 on at

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Hi Ola

Latest update of Financials contains a set of actions on general journals to help you prepare open balances. Open General Journal, click actions and find Prepare Journal action. There you'll find 3 actions that help you prepare for import of open balances for customers, vendors and G/L accounts.

Each of these actions will pre-fill General Journal with customers, vendors or G/L accounts. All you must do is add amounts and after posting such Journal you'll get your open balances on customers and vendors.

This will get you per Customer/Vendor open balance. If you want to do this per document, you'll need to wait for "Edit in Excel" function to be available in Journals.

Keep in mind that open balances posted for Customers and Vendors are balanced off on receivables, payables G/L account, so net change on those G/L accounts will be zero. After importing G/L account balances for receivables and payables G/L account these will reflect non zero balance.

Regards

Ivan

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Ola Darwish 915 on at

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Hi Ivan,

Thank you for your reply

I tried to follow the same steps , but when I open General Journal >>actions

I don't see the option prepare Journals that you have in your screenshot

Thanks

Ola

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ikoletic 2,202 on at

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Hi Ola

This is a part of May update which is being rolled out as we speak to existing Financials tenants. I can't tell you when your specific tenant will be upgraded, however this should be completed within few weeks, so keep an eye on this.

Regards

Ivan

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tnohelty on at

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I have seen this several times. In my experience, this is due primarily to a data validation error(i.e. bad characters in a field, field too long etc). The Vendor table is especially touchy with this. I fixed the few data errors that I had, but ultimately had to delete the records and add them back in again thru the edit interface. I was unable to determine exactly why it was not liking the data. Just easier to rekey the few records.

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Ola Darwish 915 on at

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Hi Ivan,

I tried to use prepare journal for trial balance opening balance and vendor and it worked fine, but then I tried to use it with Customers. it says the journal created successfully but it doesn't populate any of the customers in the client list.

The customer list looks fine to me. is there a specific field that I should check. any setup that may be causing this ?

Thanks

Ola

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ikoletic 2,202 on at

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Hi Ola

The only thing we filter on when going through list of customers is Bill-to customer. If you imported customers, please check if bill-to customer no. is different from blank.

Regards

Ivan

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Ola Darwish 915 on at

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Hi Ivan,

The bill to customer is the same no as customer No , does it have to be blank?

Thanks

Ola

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ikoletic 2,202 on at

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Bill to number should be entered only when it's different from customer number. Meaning only when you send invoices to customer other that one set in customer number, otherwise it should be blank.

Blank value in bill to customer means it's the same customer.

Prepare customer journals expects this field to be empty (blank), so in cases where you have bill-to customer entered and it is the same as customer number you should switch it to blank and this should work.

Ivan

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