How to load the opening balance of projects into SAP

[Former Member]

Hi,

We are loading open balances in SAP.

We have Opening balances against the Projects in legacy.

Can you please help me how to load these balances against the projects in SAP so that while settling the projects it will get settled to COPA.

The opening balances from legacy projects are in Balance sheet WIP account.

Can you please give your inputs.

Thanks,

Sudha     

[Former Member]

Hi,

Thanks for all the replies

Fortunately i know that the balances will be loaded through JV and i did load the GL balances.

My question is how to link that to Project.

Ex: we have $1000 in project X as WIP in legacy.

in SAP we loaded the balance against the WIP with GL 123 and not referenced project.

If i reference the WBS element on the load will it update in Project.

i will test in test system and check but want to know if any one has any other ideas.

Thanks,

[Former Member]

Hi

Generally for legacy balances uploading, they will  create a  project (nominclature uploading project for XXX )with necessary wbs element levels after that by using Intermediary/offseting A/c FI person  post a JV

Regards

Rao

[Former Member]

Agree with what Shrikant has mentioned in his post above. Usually open balances are uploaded into SAP by way of a journal entry. It would be better if you could take help from your FI consultant on proceeding further with this.

[Former Member]

Hi Sudha,

In my opinion, open balances are uploaded by journal entry. Please discuss with your FI consultant.

Regards

Shrikant