Hi,
We are doing a migration from a legacy system. The data will come to an existing production company. How do I bring the closing balance from legacy system's ledger to Baan? Can I use opening balance transaction type to enter the ledger balances? Or what are my options? This will not coincide with year end.

We are on Baan IVc3.

Thanks

Arvind Patil

Hi avpatil,

When you go over from one financial package to another, it is important that you do the change between two years or between two periods.

If the year and period figures from the old system are correct than you can work with an opening balance transaction type to give the ledger accounts their openings balances.
I’m not completely sure but I think that with this transaction type you can only update the balance ledger accounts and not the P&L ledger accounts. If the P&L accounts aren’t accepted in an opening balance transaction type than you must book the P&L balances with a normal journal entry transaction type.

Possibility two is that you use the openings balance transaction type only for the real openings balance of the current year and a normal journal entry transaction type to book the transaction from the past periods. Using the openings balance transaction type gives the advantage that these transactions can be seen in reports in the openings balance column.

Be sure that you book the balances in a period which is already closed. By doing this you make a difference between the balances from the old system and the transaction from the current Baan system.

Jaap

You can use the opening balance transaction type for normal ledger accounts. In addition to what Jaap said , u need to do /check following

1. Finalize the list of open purchase / sales invoices on cut-over date . You will have to key-in them as purchase / sales invoices. Users can never enter colntrol accounts for manual entry. Control accounts are used only in system generated entries like purchase /sales.
2. Decide whether u are implementing FAS , then FAS chart of accounts and opening balances also have to be keyed in.
3. Decide the kind of integration u r going to have between logistics and Finance . Decide the chart of accounts and the way to get the opening balances of these accounts on cut over date.

Hi,
Thanks for evryone reply.

I can use Sales and Purchase nvoices for updating GL for AR andAP.
How about cash?
And is it possible to use Opening balance toupdat balance of current GL account. We will use the same GL code and will merge the accounts.

Thanks

Arvind Patil

Cash account does not have any special opening balance entry. U can enter cash opening balance normal way.

I believe u wish to update opening balance of ledger account already used . I think it's possible .