We are going live with AX2012 and I’m looking for a way to bring in my ledger account opening balances. I’ve read some other posts about using a GL journal but I’d like the opening balances to display in the ‘opening balance’ column on the trial balance report. Is there a way to import the opening ledger account balances? We are not briging over any transactional data - just the ledger acccount opening balances. If not import, are GL journals the way to go? Do I need to create a “999999” dummy account for offset?
Hello Rupesh, search this forum. Adam and others have shared a great deal of info on how to. From what I understood, you need to use the General Journal to bring over your ledger balances and create any “suspense offset” account as an offset
You need to use dummy account to offset Opening Transactions. You need to post opening transactions on last date of previous year and then perform year end closing in AX.
Now when you generate Trial Balance/ Financial Statements, opening balances would be shown in Opening Balance Column.
E.g.
if you are starting your Fiscal year in system from 1st January then post opening transactions on 31st December and perform the year end closing.
Hello how could you enter opening balance in General journal,
okey. I select ledger as customer, enter the customer name and then I select ‘Bank account’ as a offset or a dummy account and now post this customer balance.
say i have 3 customers total
customer 1 = $1000
customer 2, i enter $2000
customer 3, I enter $3000
i create dummy account say ‘888888’…
question: how will you enter the beginning balance for the a/c ‘888888’ ?
When you enter your TB your debtors total goes to 888888, then this offset balances it to zero reconciling the detail of the ledger open entries matches the debtor balance in the legacy system brought across.
Thanks Adam, that’s the missing dot. Now i haven’t entered the TB in AX, so I went to Main —> trial balance and tried to open record and was hoping to enter the balance. obviously not there I suppose. Where should the balance be entered.
So, when I am creating general journal (for customer balance), it will offset as it is just a dummy account and it is Cr. account in the ledger.
Similarly, I would create another dummy account say “999999” Dr, When creating general journal for Vendor balance this will dummy account will offset here.
In the AP journal itself I can see the total debit/credit balance which will equal to the AP balance from the legacy ERP.
I think so, basically the debtor balance is made up of the AR journal, lets say $100000, this is offset to 88888.
When you bring in your TB you will post the AR balance to 88888 - which should leave the balance of this as 0 and your debtors $100000 is constructed from the detail.
Is it correct depends upon the process these accounts reflect and what you are trying to achieve. Why is there a balance in 1100 would be my first question and how will it be removed? Your offset should be a suspense account assuming the $100 is on the TB.
