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How to enter opening balance from trail balances of last year.

Hi All,

Actually my client using a different ERP and now he wants to move a new GP so he give me a trail balance details (2014) and right now he does not want to import historical data into GP he wants only current open year (2015) data like trx data and masters only .

SO i just want to know that

1.) What is the step to importing the opening balance into GP from trail balances of last year.

2.) And second thing how we check after the importing of opening balance.

My trail balance is something like that suppose

Year Account Description Opening Bal

2014	000-06-000	Cash	5000$
2014	000-58-966	Purchase	2000$
2014	000-07-000	Account Receiables	3000$
2014	000-25-230	Sales	4200$

So please give me suggestion, what is the process of opening entry into GP for reflect all module also like Finical , AR , AP

Note : we are using (1jan 2015 to 31 Dec 2015) and we need to enter trail balances of 2014. And that is opening balance of 2015.

Thanks & Regards,

Govind Devda

Govind, are you wanting to enter only the General Ledger balances? If so, then it is a pretty easy task.

Get the accounts you have, along with the dollars for each, in a spreadsheet with the dollars as either Debit or Credit amounts.

After you have created the Chart of Accounts of course - you can export the COA with the Account Index, Account Number, Description, Posting Type - to Excel and then use this to populate the dollars from the closed Financials of 2014

Your date for the entry would depend on if you are entering Profit and Loss accounts as well, or just the closed Balance Sheet accounts.

If P/L included - enter as of Dec 31, 2014 - then complete a Year End Close for 2014, this will give you some degree of comparitive for the YTD with out posting all the transactions for the 2014 year.

If Balance Sheet only - enter as of Jan 1, 2015

Let me know if this is clear, if not, we can spend more time creating the details necessary to complete the tasks.

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