Registering opening balances in NAV 2009

Hi,

I have a few questions regarding opening balances in NAV 2009.

  1. How do we post opening balance of cash account? As per my understanding, it can be done through General Journal. The account type should be GL Account but what would be the balancing account type and GL Account to balance the Journal. How do we do it without creating suspense account? If it must be done using suspense account, where in the chart of accounts, this suspense account is created/

  2. The same question for the Bank account, vendor and customer opening balances?

I highly appreciate members assistance and time.

MAA

Hi Mubbsshir,

Welcome to the Dynamics User Group!

Opening balance are normally brought on using a General Journal - the balancing account will depend on what you are doing. I would normally put this to an accrual account for each sub-ledger which will wash out to zero (hopefully) when the general ledger balanaces are brought on.