Update Opening Balances

Explanation

This activity is used to calculate consolidated opening balances for a given consolidation structure, balance version and a period.

Prerequisites

In order to perform this activity,

• The combination of an active consolidation structure and a balance version should exist for the year opening period in the Consolidation Status window.
• The consolidated balances should exist for the last period of the previous year.

System Effects

As a result of this activity, opening consolidated balances are generated for the year opening period.

Window

Consolidation Status

Related Window Descriptions

Consolidation Status

Procedure

To update the opening balances,

1. Open the Consolidation Status window and create a new record.
2. Enter the relevant structure ID in the Structure field. The List of Values can be used to select the required structure ID.
3. Enter the year opening period in the Year Period field. The List of Values can be used to select the required year period.
4. Enter the balance version in the Balance Version field. The List of Values can be used to select the required balance version.
5. Save the information.
6. Select the required node(s) to be updated from the graphical consolidation structure or from the table.
7. Right-click in the header and click Update Opening Balances.

To move the profit/loss from the code string of the current year profit/loss to the code string of the brought forward accumulated profit/loss in the process of update opening balances,

1. Open the Consolidation Opening Balance Update Rule window and create a new record.
2. Enter the code strings of the current year profit/loss in the Original Code Strings section. The List of Values can be used to select the required accounts and other code strings.
3. Enter the code string of the brought forward accumulated profit/loss in the New Code String section. The List of Values can be used to select the required account and other code string. 
4. Save the information.