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Former Member

Uploading Opening Balance SAP B1 not in the start of fiscal year

Hello,

I have an implementation with a cut off date 1-December-2017 , Customer will stop using the legacy system and will start using SAP B1 and and he will provide the closing balance (trial balance) from the legacy system as of 30-Nov-2017 (GL ,Assets, BPs and items)

The posting periods are in months

I need to know the best practice :

1-Should i remove the posting periods for jan-feb-march-april-may-june-july-august-sep-oct-nov 2017 ?

2-Should i keep the November 2017 posting period and enter the opening balance transaction as of 30-nov-2017 OR 1-december-2017 ? what about transactions that will happen in DEcemer 2017 ? will that be accepted by Auditors ?

3- if i entered the opening balance in 30-Nov-2017 then i will have an issue in the assets as i will have to run the depreciation of November and manually cancel the JE which may also make some differences in the Assets sub ledger against the ledger (due to different calculation method between the old legacy system and SAP B1)

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1 Answer

  • Dec 30, 2017 at 01:09 AM

    Hi,

    1. No need remove remaining posing period. The remaining posting period needed to uploaded opening balances

    2. You should add opening as Nov-2017. In Dec 2017, user starts to enter normal transactions.

    3. Not sure about asset transaction.

    If not clear with opening balance, ask customer to check with their auditor.

    Regards,

    Nagarajan

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