Transitioning your legacy trial balance to SAP Business One consists of a number of steps. These are outlined below with links to additional knowledge base articles depending on which accounts are applicable to your organization.
First, determine the posting date you will use for all of your Opening Balances. If you are planning to Go-Live on January 1, 2020, then your Opening Balances will be posted into December, 2019, most likely on December 31, 2019.
- A single journal voucher (similar to a draft Journal Entry) will be added to account for all general ledger accounts with the exception of any "sub-ledger" accounts which may include: Inventory, Accounts Receivable, Accounts Payable, Fixed Assets and Job Work In Progress. Opening Balances - Trial Balance
- The Inventory balance is accounted for by performing an inventory Goods Receipt into SAP (inventory sub ledger). Opening Balances - Inventory
- The Accounts Receivable balance is accounted for by entering detailed service A/R Invoices (customer sub-ledger). Opening Balances - Accounts Receivable
- The Accounts Payable balance is accounted for by entering detailed service A/P Invoices (vendor sub ledger). Opening Balances - Accounts Payable
- The Fixed Assets accumulated depreciation accounts are entered with the balances as of the opening of the current fiscal year. A depreciation run is run to update the year to date values in the accumulated depreciation accounts and the depreciation expense accounts. Opening Balances - Fixed Assets
- Work in Progress:
- Eralis Job Work in Progress (WIP) accounts are entered via the Job Transaction screens. Article: Opening Balances - Eralis Job (Job Work in Progress)