Question Status

Unanswered
Krazzy4 asked a question on 8 Apr 2015 12:27 AM

Hello Friends!! I can post journals but in few cases errors or alerts are faced. Here is the one as follows:

When I keep the Bal. Account No. field blank, it pop-ups with the above alert message. I have selected the Account Type and Account No. as G/L Account and 3111 for posting the journal as beginning balance. I have been suggested to post one-way journal without using Bal. Account No. field. Is it possible to do so??

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mmv responded on 8 Apr 2015 12:44 AM

Hi,

Reason for errors:-

1. Each journal entry (at the Document No level) requires a Debit as well as an equivalent Credit, (in your case a Bal. Account No.).

2. From the above screen print, it's observed that "Credit Amount" is entered with (-) sign.  In the "Debit Amount" or "Credit Amount", you are not supposed to enter any sign.  I guess, I have already notified you about this in my previous posts.

Best Regards,

MMV

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Krazzy4 responded on 8 Apr 2015 12:50 AM

Thanks MMV. I can understand - It is getting repetitive. But this things are little bit weird. So you are suggesting now to give input for credit too. Can not I leave Bal. Account No. Blank??

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mmv responded on 8 Apr 2015 12:57 AM

Hi,

You need to understand the basic things required for a Journal Entry.  If you want to leave "Bal. Account No." blank, it's possible, but for the respective document "Total Balance" which is appearing on the bottom of the screen must be zero (0).  So in your above example, you have entered only the "Account Type" and "Account No.", but not the "Bal. Account No.".  Either you enter the "Bal. Account No." and proceed or enter one more line for the "Debit Amount".

Hope, this clears your doubt.

Best Regards,

MMV

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Krazzy4 responded on 8 Apr 2015 1:25 AM

OK. Done. But in Chart of Accounts it does not show up any balance.

Chart of Accounts:

Total Balance After Posting:

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mmv responded on 8 Apr 2015 1:37 AM

You have selected the same account in the "Account No." as well as in the "Bal. Account No.", i.e Debit and Credit to the same account, which will cause the net effect to that account to zero (0).  What are you trying to do?

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Krazzy4 responded on 8 Apr 2015 2:14 AM

Basically one of my colleague (Finance dept.) told me he is trying to give an input for opening for a bank account. What he told me is to use only the Account Type and Account No. for the journal entry. And he also told me while posting journal specially for opening balance no other accounts should be associated.

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mmv responded on 8 Apr 2015 2:26 AM

While posting the opening balance, you need to select the Opening Balance Control Account.  In the above scenario, you must have selected "Bal. Account No." as your Opening Balance Control Account.  If all your opening balances are correctly posted, the Opening Balance Control Account will be zero(0).  You need to ensure that the balances (as part of the opening balance) you are posting to the system are correctly tallying.

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Krazzy4 responded on 8 Apr 2015 3:52 AM

My Colleague - Hi MMV, our accounting period is started from 2013 and we are maintaining it on  another software named tally.net

In this circumstance we want to put all of transaction in NAV from 1st January 2015. So I need to put opening balance abstract from tally.net

otherwise we need to record all of transaction from 2013 which is incredible for me.

As u prescribed if we put "Each journal entry (at the Document No level) requires a Debit as well as an equivalent Credit, (in your case a Bal. Account No.)." will not be effect for me.

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mmv responded on 8 Apr 2015 3:57 AM

You may enter all the entries line by line and make one line entry for the net effect (which will be Debit or Credit, which will be to a Opening Balance Control account), so the net effect will be zero (0), so you can post it.

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