Hi All,
At the time of Go-Live in 2006, opening balances of some of the GLs comprising of Current Assets, Fixed Assets, Ownersu2019 equity & Liability were not part of the Trial Balance. The debit & Credit total of these accounts is same.
If the opening balances are updated in 2008 (for 2006), whether the c/fd balances of 2006 & 2007 will get revised? What will be other effects (if any) on the GL balances?
Thanks a lot in advance.
Amish.