 |
|
|
Opening Balances There are many different ways in which opening balances can be entered into the general ledger. This section looks at this issue in greater detail. The following set of procedures are recommended: If you will be running CAPITAL Office and CAPITAL GL Controller together, then you should enter those transactions required to bring the balances up to date in CAPITAL Office, first. Normally your customer account, supplier account and cash book balances should be entered up to the last "non-live activity" month. For example, if you are going to start producing invoices, purchase orders, etc., For July 1st onwards, then opening balances in CAPITAL Office should be entered as transactions up to the last day of June.
|
This is an
important point: general ledger opening balances should go in the
month following your CAPITAL Office balances. Any transactions
placed in CAPITAL Office for the purpose of bringing your
individual customer or supplier or cash book balances up to date,
should be dated one month before the period in which you will be
actively running your general ledger. If you will be running your
general ledger from July 1st, any sales or transaction history
reports should contain only actual activity for that month. (such
as "real" customer and supplier invoices.)