175
Starting GP in 2012
Wishing to post ending balances only for FY 2009 and FY 2010 and net change for FY 2011.
Wanted to know if it could be done using integration manager
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Anthoney,
BE VERY CAREFUL.
I am assuming that this is a new company and what you are wanting to do is having 12/31 balances for 2009, 2010, and 2011. Assume that FY=CY. I also assume that you are just really wanting this for reports that compare results.
If my assumptions are accurate, then here is what I would do. Does not really matter if you use integration manager or manual entry, the process is the same.
1) Besure that you have Year 2009, 2010, 2011, and 2012 created.
2) Enter 12/31/09 ending balances (IM or manual). Besure date is 12/31/09.
3) Close 2009. This will create opening balances for 2010.
4) Calculate net change for 2010 by account and make entry (IM or Manual).
5) Close 2010, creates opening balances for 2011
6) Repeat step 4 &5 for 2011.
If you did it the way that you propose, then your opening balances for 2012 would be the sum of the ending balance 2009 + ending balance 2010 + net change for 2011. In other words, overstated.
Besure you understand the closing process and the importance of having accounts set correctly to either Balance Sheet or P&L.
Warren
Anthony,
Sure, just import a big journal entry. Be careful to do them in order and pay attention when you close the year. I'd really need more information, what obstacle did you expect to encounter?
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