Entering Historical Balances through the Trial Balance - Will GP Calculate the Net Change from Prior to Current Month?

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When entering historical balances from the trial balance, will GP subtract prior month total from current month total to get correct current month transaction? If so, how can I set this up?

Thanks!

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soma 24,410 on at

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Sorry, I didn't get your question clearly.

What you mean "Entering Historical Balances through the Trial Balance"?

Are you going to enter the Historical Balances through the General Ledger window? or any other?

I think there is no other place available for entering the GL balance other than the General Ledger window?

Please clarify.

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soma 24,410 on at

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If you going to enter the Historical Balances through the General Ledger window, it will brings the opening balance of those posted accounts if you already closed that year. If you are not closed the year, it wont brings the balances to current year.

Hope this helps!!!

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Community Member on at

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Hi Soma,

Sorry, here's some clarification. We do enter all historical balances through the GL.

What i was trying to say is will GP edit the net change in accounts per month? For instance. If I entered Petty Cash in Jan for 300 bucks, and then I entered a transaction in Feb for 330, i was hoping it would calculate the net change to show Feb +30, and not add these amounts together, as it seems to be doing currently when I enter these monthly historical summaries.

Any suggestions ? :)

Thanks

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Bill Campbell 12 on at

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Kimberly, when you enter transactions in GP it is the standard practice to enter the transactions as the difference, and not entering a flat month end balance.

For Jan you enter 300 debit, in Feb you enter 30 debit, in March you enter 20 credit - at the end of each month Jan 300, Feb 330, Mar 310

Not trying how to do accounting, but only as a suggestion on how to do the transaction for the beginning balances for the accounts.

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Thanks Bill, the reason we asked is because our current software allowed us to enter end amounts and then would find the net change.

Much appreciated!

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soma 24,410 on at

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Kimberly, as per the GP standard functionality just enter the transaction level balances on each month, system will be automatically calculated the month end balance as explained by Mr. Bill.

Hope this helps!!!

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Bill Campbell 12 on at

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Kim, if we have answered your situation, mark as resolved so others will know it is fixed.

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Community Member on at

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Sorry for the delay in marking this questions - I've been away from the office. I always try to mark questions answered if so, because you guys truly do help so much.

Thanks!

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