Hi All,
Being a novice person in Baan IV Finance I need some help regarding entering of opening balance,Due to some problem we could not complete data enteries of fiscal year 2005-06 and now we 've decided to enter new opening for fiscal year 2006-07,Can somebody tell me should we start entering opening balance by leaving the previous year data as junk as we can not put efforts in deleting the previous year data we just want to leve it as it is.Kindly advice me at the earliest ,Is there any technical difficulties in re-entering opening balances even if previous year data is there and closing is not done?


Waiting for a reply desperately.

:(

NOT ADVISABLE...

This will lead to inconsistency in the system.....

Further it is not possible to set current year as 2006-07 without closing previous year..

What I advise.. get the balance for last year... pass correction entry in worrection period to ensure required closing balance...

Do the junk work in last year so that opening comes correct...

Regards,

H

Thanks for the prompt response...

Instead of entering the opening can we enter difference at the end of the year and close year 2006-07 even if 2004-05 and 2005-06 are still pending for final closure.

Kindly revert back at the earliest...


Regards.
:(

Even 04-05 is pending !!!

well you will have to close all years....

then in 05-06 get the closing balnce as per system entries. Then enter correction JVs in the correction period to get the required closing..


But frankly .. the situation there is really bad... get an expert to look into ur system and then advise...

but as a bottomline avoid any GTM activity...

Regards

If you have a correction period you can do like below
close all transaction and period till 12 th period and get a trail balance of the same do correction entries in correction period .In the case of debtors and creditors use debit note + or _ entries and match the same.

Reagrading open orders short close all orders
regarding inventory use cyclecount or inv adjustments to tally with correct inventory in hand
Then close the year using standardard functionality of baan
the correct opening balance will be carried in next year

reghu

Thanks for u'r valuable inputs.

I need some more clearity regarding distribution also,As we are having single logistics multi finance setup and ILC contol implemented do i 've to clear my pending purchase orders and sales orders too.

I am following the below mentioned steps for doing the same for closing:
1. Clearing all integration related errors
2. Re-build dimension/Ledger /Opening Balance history
3. Closing of all the periods and JV's in the correction period
4. Reconcilation of trial balance with manual records.
5. provisional closing of fiscal year
6. closing of correction period followed by final closing
7. Inventory adjustments on need basis.
8. Trial balance as on 01/04/2006 for checking the opening balance.

Pls review the above mentioned steps,Kindly advice if I'm missing anything.


Do you have any documented procedure with you for closing in finance and distribution as well? Pls. do share if possible.

We are using Distribution and Finance module in Baan IV .

Waiting for a response.
:(

Yes all of your steps are right.
after doing provisional closing do one more exercise that
In baan finance there is a session to c/f the opening balance even with out final closing the difference will go in some control account only.That session is under finance provionsal close from that also you can find all the op balance for the next financial for talling.If it tally then you can have the final closing as you said.Please take the back up before final closing (data).You have mentioned wrongly that your company is single logistic multi finance it may be other way round single finance multilogistic.

Please check the pening work of logistic company.I hope the table related to item, inventory, finance integration etc may be shared if not then check any pending also.

I hope your problem will be solved by doing this

reghu

http://www.baanboard.com/baanboard/showthread.php?t=14009

Hi Rahhuks,
Mine is Single Logistics and Multi Finance..any problem with the same ,Pls. brief me again if any changes are required in the steps mentioned by me.

Pls. revert back soon.

:(

The steps is correct even for single logistic multifinance.

please take up full data back up and system back up after closing ok

There is no other solution for this type of problem .

The second solution is there (SOS)

If you do not have to refer the old transaction you can do re implementation from start
cleaning all data and creating new set up.
If you have time and resourse you can do.Masters you can dump from old set up that will avoid creation of master.

But do the same with good tool and function experts.other wise while transfering the master some tables you have to run correction.

I hope it is clear to you

regards
best of luck carry on.. other wise how many day you spend in confusion????

reghu:(

I'm following up with the first solution,Thanks for u'r prompt response.I'll update you once i receive the correct balances for 2006-07.

We 've started working on clearing the integration log as we are having several companies and lot of purchase/sales data.It will take sufficient time.


Thanks again.

:)

Dear Reghuks,
I need one more suggestion from u'r side ,Can we do one thing as nullyfying the ledger accounts/Dimension by passing contra enteries and making closing balance as zero and than we will enter opening balance for the current year as we've previous year's Trial Balance and Balance sheet already prepared in manual system and we don't want Baan IV Finance data for previous years.

One more suggestion i would like to have from u in this regards ,which all reports other than Trial Balance I should check for zero or new opening balance for the new fiscal year,Kindly give details .

Any special treatment for Bank,Supplier and Customer Balance?

Thanks in advance.

:confused: