Chart of accounts

How to setup opening entries/opening balances in chart of accounts

Read MANUAL … or contact your NSC [:D]

hmmm … preferably contact your nsc.

What have people been doing all these years?? [:0)]

Not very friendly answers guys! [:(] May be a small implementation and a simple G/L, not all systems are monsters that require the skills of the NSC’s highly trained employee’s [:P]! Just use a Journal and a Balancing Suspense Account. Things to think about are the control accounts, Debtors and Creditors, Bank etc:, these should be setup as direct posting No. so you wil need to post on the Open Documents and Exclude these values from your G/L Account Postings as these will be updated when you post on the Documents against the Customers and Vendors and Bank. When all is done your suspense account should nett to Zero.

The original question was posted in Jan of 2004. Hopefully he figured it out by now[:O)]

Hi, What happens if there are some entries which are entered before the opening balances are entered. These may be entries which may have been left out after the opening balances areentered. These will appear as separate record as of date prior to the opening balance entries. In some of the legacy systems in India, provision is given for entering opening balances. These may be updated as and when required. Once these are frozen (in Navision terminology, posted), they cannot be edited. Yes, there will be a limitation - you may not get invoicewise breakup in the first year. Also, the due date for payment will not be available invoice-wise