Oneworld : Begnning balance

[mmitao]

Hi,

Need advice on uploading beginning balance. We plan to just enter beginning
balance for balance sheet account and do the year-end close. Has anybody
experiences any problem from not uploading beginning balance for revenue and
expenses account. I don't see any problem except for job cost when there is
over year project. Open to any advice !

-MO-

 

[Mike Dupaix]

MO,

You will not have any problems loading only the balance sheet year end balances. However, you will need to maintain both systems for a few years or until accounting/management no longer needs data from the legacy system. Most companies need at least two years accounting history (Revenues, expenses, assets, liabilities, equity) to maintain proforma budget and P&L reports.

This may also require several financial report rewrites as you create reports to initially link the two databases accounting information together and the rely wholly on the data in JDE.

Mike Dupaix
JDE Certified Professional
(630) 904-5373 – Office/Fax
(630) 750-2500 - Cell

 

[spranes]

We loaded Dec YTD balances for the pervious year via a journal entry., and ran
the annual closed. This was easy and worked great.

Sue Pranes
[email protected]
Phone: 650-631-5012
Fax: 650-631-3150
Pager: 650-760-1166

 

[david_mallory]

Sounds OK to me. Make sure you have the revenue and expense accounts in
account master. I assume you mean you would enter your accounts for ongoing
jobs in job cost (those not closed at year end), so the accounts balance. We
started with ending balances for a year prior to implementation, and entered
summary journal entries for each month up to implementation date, so we
would have monthly balances for a year of history on One World.

Dave Mallory Denver Water