Reg.opening Balance

[former_member305655]

Hi all,

Can any one tell me what are the points to be kept in mind while Entering the Opening balances for stock,G/L,BP in SAP B1 2005B Version PL 40.

What is the procedure to enter these 3 types of balances.Whether i have to create individual opening balance A/c. in the Chart of accounts for this.

And tell me how to cross verify whether the datas entered by me as a opening balance for all these 3 types are correct or not.

Thanks in Advance,

M.Badrinarain.

[Former Member · Accepted solution]

You can check this thread to find more info:

Thanks,

Gordon

[former_member305655 · Accepted solution]

Hi,

Thanks for your reply.Still i have small doubt.

i.e.,Customer Balance -- To be entered in Positive.

Vendor Balance -- To be entered in Negative.

Asset GL Balance - To be entered in Positive.

Liability GL Balance - To be entered in Negative

Equity GL Balance

[Former Member · Accepted solution]

Check this link

[https://websmp209.sap-ag.de/~form/sapnet?_FRAME=CONTAINER&_OBJECT=011000358700008899402004E]

[former_member305655 · Accepted solution]

Hi,

Thanks for your reply.Still i have small doubt.

i.e.,Customer Balance -- To be entered in Positive.

Vendor Balance -- To be entered in Negative.

Asset GL Balance - To be entered in Positive.

Liability GL Balance - To be entered in Negative

Equity GL Balance - To be entered in Negative.

Stock Balances - To be entered in Positive.

Am i right.Correct me if i am wrong.

My Version is SAP B12005B PL40.

I have enabled the setting Display credit balance with negative sign in the company details window.

Thanks in advance,

M.Badrinarain.

[Former Member · Accepted solution]

You are right

Customer Balance -- To be entered in Positive.

Vendor Balance -- To be entered in Negative.

Asset GL Balance - To be entered in Positive.

Liability GL Balance - To be entered in Negative

Stock Balances - To be entered in Positive.

Equity GL Balance - Not sure about this. Consult your client's finance manager

[former_member305655 · Accepted solution]

Hi,

Tell me how to check the Nullification of this Opening Balance A/c.

For Eg,

i have created individual opening balance a/c for GL,BP,Stock.

After entering all balances how to check this Opening balance A/c is nullified.

Especially for the Stock Opening balance A/c.

Thanks in Advance,

M.Badrinarain.

[Former Member · Accepted solution]

Hi,

Run a Trial Balance and you will see all your account balances.

Regards,

Nat

[former_member305655 · Accepted solution]

Hi,

I want to Know where the Opening Balance a/c will get nullified after entering all opening balances.

Thanks in advance,

M.Badrinarain.

[Former Member · Accepted solution]

If you use the OB account as an offsetting account for all your posted OB transactions correctly, the OB account should be nullified in the end automatically.

[former_member583013 · Accepted solution]

Badri,

There are a 3 critical things for the Opening Balance account to zero out itself

In your Old / legacy system:

The Inventory GL total (as seen in the TB) should match the Total (Quantity x Cost) of the Items that you are importing

The A/R Aging should match AR GL balance

The A/P Aging should match AP GL balance

The 3 items from your Old TB that you will not enter manually are your AR, AP and Inventory opening balance. You would probably be importing them asopen AR and AP Invoices and Stock.

Once these 3 totals match your legacy TB then you should be Golden.

Suda

[former_member305655 · Accepted solution]

Hi,

I have created 4 opening balances account.

1 for GL A/C Opening balance.

2 for Vendor Balance.

3 for Customer Balance.

4 for Opening stocks.

in the asset drawer.

I have used the concern Opening balances A/c while Entering the relevant opening balances.

After Completeion of All opening balance entries.I checked the balances of opening balance a/c whether it is nullified or not.But all these 4 Opening balance a/c. shows balances in values.it doesn't get nullified.

GL Opening bal. A/c.,Customer Opening Balance A/c.,Stock Opening Balance A/c. shows values in -ve .& Vendor opening Balance a/c. shows +ve values.

Is it Correct or not.

Thanks in Advance,

M.Badrinarain.

[former_member305655]

Still i didn't get exact solution

[Former Member]

hi,

Create a a opening balence account in euity ,post all the OB from this account ,atlast after all the opening balences this account will come to zero ,if all ur postings are correct

Regards,

Naresh k