 Introduction
Opening Balances in the Nominal Ledger
Opening Balances in the Sales Ledger
- and the Nominal Ledger
- Payment Modes
- Opening Balances
- Entering Receipts
Opening Balances in the Purchase Ledger
Opening Balances in the Stock Module
Importing Opening Balances
Printing Reports
 Tutorials for Standard Accounts
Search HansaManuals.com HansaManuals Home >> Discontinued Products >> HansaWorld FirstOffice Professional >> Starting Work >> Entering Opening Balances Previous Next Entire Chapter in Printable Form Search This text refers to program version 4.3 Opening Balances in the Sales Ledger - and the Nominal Ledger Enter Sales Ledger opening balances in the form of Invoices and Receipts. In the case of balances brought forward from the previous fiscal year, they should be Invoices and Receipts that will not be posted to the Nominal Ledger if you have already entered previous-year Nominal Ledger opening balances to the Brought Forward Balances register as described here. The Nominal Ledger opening balances include balances for the Accounts affected by Invoices and thus to post to those Accounts from opening balance Invoices is to post the same amounts twice. Therefore, before Sales Ledger opening balances can be entered, a setting in the Nominal Ledger needs to be considered to ensure that they will not be posted.Using the [Select Module] button in the Master Control panel, ensure that you are in the Nominal Ledger. Click the [Settings] button in the Master Control panel or select 'Settings' from the File menu. In the subsequent list, double-click 'Sub Systems'. The following window appears:
It is recommended that for each Sub System you enter the first day of your fiscal year. When you enter previous-year opening balances, use a Transaction Date prior to that date. This will ensure that Nominal Ledger Transactions are created when expected and that they are not created for opening balances. If it takes longer than expected to enter opening balances, you can continue doing so (using early Transaction Dates) and start to issue new Invoices without needing to worry about the consequences in the Nominal Ledger. If you are starting to use FirstOffice in the middle of a financial year, you should already have entered the Nominal Ledger Transactions for the current year so far, as described here. If, as was recommended, you entered these from the original documentation and did not copy them from Transaction Journal reports produced from your old system, you will not have any current year Transactions that relate to the Sales or Purchase Ledger. These will now be created automatically from the Invoices and Receipts (and Purchase Invoices and Payments) that you are about to enter, providing that their Transaction Dates are later than the Sub System Date (the first day of your fiscal year). If you did enter current year Transactions relating to the Sales or Purchase Ledger as part of the previous exercise, you will not want them created again when you enter Invoices and Receipts. In this case, make the Sub System Date later (a few days before the date you start using FirstOffice to originate transactions). This means you will be able to enter Invoices for the current year to date and to issue new Invoices simultaneously without needing to worry about the consequences in the Nominal Ledger. If you are not certain whether you have entered current year Transactions relating to the Sales or Purchase Ledger, produce a Trial Balance report for the current year and check the balances for your Sales, Purchase, Debtor and Creditor Accounts. If these are zero, you have not entered these Transactions. If they are the same as those on the Trial Balance produced from your old system, you have entered these Transactions already. Please refer to this page for details about printing a Trial Balance report. Once the Sub Systems setting is to your satisfaction, save and close the window by clicking [Save] in the Button Bar.
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