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You are here: General Ledger > Opening GL Balances
Opening GL Balances
Function
Enter, change, and display prior year general ledger amounts.
Things You Should Know
Operating Instructions
To enter Prior Year G/L Balance amounts, Click on General Ledger, then select
Opening GL Balance. All of your GL Codes will appear in the grid. To make any changes, click on Edit.
Edit: Click this button to change an existing prior year general ledger balance.
Save Edit: Click this button to save any changes you may have made.
Print: Click this button to print a list of prior year general ledger balances.
Enter, change, and display prior year general ledger amounts.
Things You Should Know
- This function enables you to enter or change prior year general ledger balances. You may also print, display, or export these amounts.
- When entering prior year general ledger amounts you will specify the appropriate general ledger code and then enter the prior year balance.
- Debit balances should be entered as unsigned amounts i.e. 10000.
-Credit balances should be entered as negative amounts i.e. -10000. - At any time you may print or display these prior year figures.
- Prior year general ledger balances will appear on the General Ledger Listing each month. They will also be part of the cumulative amounts, which will appear on your Balance Sheet.
- Balances should agree with audited year-end figures. Once entered, they will not change unless you change them using this function.
- Proof prior year amounts carefully to make certain that they are in balance and that they agree with previous year-end amounts.
- If prior year amounts are not in balance, the General Ledger with Current Detail will fail to balance.
- If corrections are identified when you proof these balances, you may look up and change amounts as appropriate. Continue this process until the amounts are in balance.
- You will be blocked from entering PY GL balances to accounts 39700-39900 since there should never be opening balances to these accounts.
Operating Instructions
To enter Prior Year G/L Balance amounts, Click on General Ledger, then select
Opening GL Balance. All of your GL Codes will appear in the grid. To make any changes, click on Edit.
Edit: Click this button to change an existing prior year general ledger balance.
Save Edit: Click this button to save any changes you may have made.
Print: Click this button to print a list of prior year general ledger balances.
