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Evo-ERP and DBA Classic >> Accounting >> General Ledger -Beginning Balances Entry
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Message started by Vanetta on 05/08/03 at 10:13:26

Title: General Ledger -Beginning Balances Entry
Post by Vanetta on 05/08/03 at 10:13:26

???
I am trying to enter beginning balances through GL-B,
the problem is that our company was purchased on April 1, 2003...we are wanting beginning balances entered as of April 30, 2003 & will have a short fiscal year ending 12/31/03. I have reset the close date to
00//00/00, current fiscal year 01/01/03, & todays date so I could enter b/balances, but I get warnings and cannot get past transaction date.

How can I correct this problem.

Thanks again,
Vanetta
PEC Mfg :(

Title: Re: General Ledger -Beginning Balances Entry
Post by Lynn_Pantic on 05/08/03 at 10:29:14

If you want to enter Beginning Balance type entries, they need to be dated in the prior fiscal year. In your case, since you will have a short year, you need to "fake it out". If you want your beginning balances to be 4/30/03 and you will then have activity 5/1 through 12/31 for your short year, then set the fiscal year start date to 5/1/03 so the beginning balances are considered to be a prior period. Or, enter them as a Type 1 General Journal rather than Type 5 Beginning Balance.