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G/L Opening Balance

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Posted on by Mohammad Altran

Hello,

We are moving from QuickBooks to Business Central and for some reason i'm not really sure what are the G/L accounts to include for GL opening balance.

Appreciate your help.

Thanks,

Mohammad

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Financial Management

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YUN ZHU 69,639 Super User 2024 Season 2 on at

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RE: G/L Opening Balance

Hi, Personally, I think that depending on the user and local policies, the imported results are also different.

If you're looking for a standard solution, you can use the standard function below.

Hope this helps.

Thanks.

ZHU
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Dallefeld 11,423 User Group Leader on at

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RE: G/L Opening Balance

So the best way that I can explain is with examples.

Example 1 -Let's say you want all of 2022 monthly activity and you're going live 12/1/22. Start with the balance sheet ONLY at 12/31/21 (the day before the monthly data that you will bring in), then for each month of 2022 bring in the net change for ALL accounts.

Example 2 - You are going live 12/1/22 and don't care about any monthly data before hand. Bring in entire chart of account values 11/30/22 (this assumes that QB only has 2022 in the income statement accounts) and begin processing 12/1/22 data.
Mohammad Altran 60 on at

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RE: G/L Opening Balance

Thank you but i needed to understand what categories/accounts to include like do we include all the chart of account for opening balance or sales, liabilities and expenses. I hope this add further clarification to my inquiry.
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DAnny3211 9,217 Moderator on at

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RE: G/L Opening Balance

hi

look this

www.youtube.com/watch

DAniele