HansaManuals Home   >> Discontinued Products   >> Books by HansaWorld   >> Opening Balances  

Previous   Next               Entire Chapter in Printable Form               Search  

This text refers to program version 6.2  

Accounts Receivable Opening Balances - General Ledger Settings

You should enter Accounts Receivable opening balances in the form of Invoices and Receipts. Any Invoices and Receipts from the previous fiscal year that you enter should not be posted to the General Ledger if you have already entered previous-year General Ledger opening balances as described here. The General Ledger opening balances include balances for the Accounts affected by Invoices (e.g. the Debtors Account) and so to post to those Accounts from opening balance Invoices is to post the same amounts twice. Therefore, before you can enter your Accounts Receivable opening balances, you need to ensure that Invoices and Receipts from the previous fiscal year will not update the General Ledger.

Using the [Module] button in the Master Control panel, ensure that you are in the General Ledger. Click the [Settings] button, also in the Master Control panel, or use the ⌘-S/Ctrl-S keyboard shortcut. In the subsequent list, double-click 'Sub Systems'. The following window appears:

Specify by clicking the check boxes the records ("Sub Systems") that will update the General Ledger automatically. In the illustration, for example, approving (marking as OK and saving) an Invoice dated later than 1/1/2010 will cause a General Ledger Transaction to be created, debiting a Debtor Account and crediting a Sales Account and, if appropriate, a Tax Account. If the Invoice is dated earlier than 1/1/2010, a General Ledger Transaction will not be created and so the General Ledger will not be updated.

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 date prior to the Sub System date. This will ensure that General Ledger Transactions will be created when expected and that they will not be created for opening balances. If it takes longer than expected to enter opening balances, you can continue doing so and start to create new records without needing to worry about the consequences in the General Ledger. For example, you can enter previous-year Invoices and Receipts (dated prior to the dates in the Sub System setting) at the same time as issuing new Invoices. The Sub Systems setting will ensure the General Ledger is only updated when it should be.

If you are starting to use Books by HansaWorld in the middle of a fiscal year, you should already have entered the General Ledger Transactions for the current year so far, as described on the Opening Balances in the General Ledger page. 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 your Accounts Receivable or Payable. These will now be created automatically from the Invoices and Receipts (and Purchase Invoices and Payments) that you are about to enter, providing that they are dated later than the Sub System date (the first day of your fiscal year). If you did enter current year Transactions relating to your Accounts Receivable or Payable 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 when you will start originating transactions in Books by HansaWorld). 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 General Ledger.

If you are not certain whether you have entered current year Transactions relating to your Accounts Receivable or Payable, 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 the Printing Reports page for instructions 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.

!	Note that if you have entered previous-year opening balances in the General Ledger, you should not post any Accounts Receivable or Payable opening balances to your General Ledger. To do so will duplicate the work you have already done and will immediately render your accounts inaccurate.

---

In this chapter:

• Introduction
  

• Opening Balances in the General Ledger
  

• Accounts Receivable Opening Balances, including:
  
  • General Ledger Settings
    

  • Accounts Receivable Settings
    

  • Opening Balances
    

  • Entering Receipts
  
  
• Accounts Payable Opening Balances
  

• Importing Opening Balances
  

• Printing Reports

Go back to:

• Home page for Books by HansaWorld manual

Previous   Next   Top            Entire Chapter in Printable Form