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Transfer opening balance for GL accounts and AR, AP accounts

Former Member
0 Kudos

Dear all,

How could I transfer opening balance for all GL. AR, AP accounts before system go libe ?

Thank you very much,

Kindly regards,

Sylvecast.

Accepted Solutions (1)

Accepted Solutions (1)

ramarao_pokuri
Participant
0 Kudos

Hi,

Yes, you can enter balances of books to system before going to live.

There is two way of doing.

1. Using transaction Code : OASV: a) Enter all the ledger balances in the screen.

B) Create/use intermediate ledger for reconcilation ledger posting like AR,Ap,Asset Account reconciliation ledger

C) For update master records of AR, AP, Asset use normal posting with Intermediate ledger

2. Date Work transfer Bench:

Thanks

Former Member
0 Kudos

Thanks Ramarao Pokuri, but could you describe more clearly ?

Answers (1)

Answers (1)

Former Member
0 Kudos

Hello

+Dear all,

How could I transfer opening balance for all GL. AR, AP accounts before system go libe ?

Thank you very much,

Kindly regards,

Sylvecast+

Ideally, One journal entry for all GL accounts is advisable. Open a clearing account. Debit all GL balances and credit the clearing account. For credit balances, debit the clearing account and credit the GL accounts.

For open items in AR and AP use LSMW tool, this would take care of the postings to recon accounts also.

For asset balances, depreciation balances use the LSMW tool. For any other balances, ensure credit or debit to the clearing account, like opening stocks etc.

At the end of the process, ensure clearing account is zeroed

Reg

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