Loading Opening Balances Checklist

Step

Menu Option

Details

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1

General Ledger > Setup Information > Years & Periods

Set the period immediately prior to the TASS cut-over date to “open” in the 'Fee' column and set all other periods in that year and the next year to “closed”.

2

General Ledger > Account & Journal Info > Accounts

Search for the Parent Debtors Control Account and write down the account balance.

3

General Ledger > Account & Journal Info > Journal Upload

Refer to the Online Help for preparing a new journal upload file to transfer the balance of your Parent Debtors Control Account to the General Suspense Account.

The journal should be:

General Suspense Account                Dr

Parent Debtors Control Acc               Cr

4

Parent Accounts > Setup Information > Parent Accounts Setup

Go to the 'Fees' tab and setup one Fee Code to be used for the opening balance transaction:

OBAL – Opening Balance

The GL Account must be the General Suspense Account used in Step 3.

The Tax Code should be 'NOT'.

5

Use MS Excel® to prepare the opening balances upload file. You should refer to the on-line Help for the 'Upload Charges & Credits' menu option. Take note of the following when preparing this file:

Trans. Type

For Parent Accounts with a debit value this must be '1'

For Parent Accounts with a credit value this must be '3'

Trans. Date

Transaction Date will be the day before the TASS cut-over date.

Fee Code

Must be 'OBAL'.

Tax Code

Must be 'NOT'.

GL Code

Must be the General Suspense Account used in Step 3.

Prior to uploading, check that the total balance within the file matches the amount written down in Step 2.  The total balance equals total of transactions where 'Trans. Type = '1' minus transactions where 'Trans. Type = '3'.

6

Parent Accounts > Charges & Credits > Upload Charges & Credits

Load the CSV file created in Step 5 above.

Print the Charge/Credit Batch report and check that all parent balances and the batch total agree with the list from your old system before proceeding to Step 7.

7

Parent Accounts > Listings & Reports > Ledger Trial Balance

Run this report with “aging date” set to the day before the TASS cut-over date.

Check that all balances and the report total agrees with the list from your old system before proceeding to Step 8.

8

Parent Accounts > Billing Cycle > Flag Transactions

Run the Flagging with both the 'Transaction Cutoff Date' and the 'Statement Date' set to the day before the TASS cut-over date.
 

9

Parent Accounts > Setup Information > Parent Accounts Setup

Go to the 'Fees' tab and click on edit against the code “OBAL”.  Tick the 'Do not use' checkbox.

This is important as this Fee Code should never be used again.

10

Parent Accounts > Period End > Post Period Activity

Post the transactions for the period prior to the cutover date to create the GL Journals.

11

General Ledger > Account & Journal Info > Post Journals

Post the PA journal to the General Ledger.

12

General Ledger > Setup Information > Years & Periods

Set the period immediately prior to the TASS cut-over date to “closed” in the 'Fee' column.

13

General Ledger > Account & Journal Info > Accounts

Search for the General Suspense Account used in Step 3 and check that the account balance is $0.00.

14

General Ledger > Account & Journal Info > Accounts

Search for the Parent Debtors Control Account and check that the account balance is the closing balance from your old system.

Also check that this balance matches the amount written down in Step 2.