1. The line mentioned The line mentioned…
2 reactions
1. The line mentioned
The line mentioned:
020124;1;;;58000000;;;;;OPENING BALANCE;;;;;;;;20,121,673;
corresponds to an opening balance line for account 58000000 (Opening Balance or Suspense Account).
2. Should this line be kept?
Keep if:
You want to reconstruct the initial balance of the Local Currency Bank 1 journal in the new Local Currency Bank 2 journal.
You are performing a complete transfer of entries and you want the balance to be consistent from the beginning of the period.
You want the bank reconciliation to start with the correct balance.
Delete if:
You are going to recalculate the opening balance in the new journal from the imported entries.
You want to avoid duplicates or confusion in the balances.
You already have an opening balance in Local Currency Bank 2.
Recommendation 3
If you import entries into Local Currency Bank 2 from January 1, 2024, onwards, it is generally best to keep this line to ensure the initial balance is accurate. However, make sure that account 58000000 is correctly configured in the chart of accounts of the target journal.
The line mentioned:
020124;1;;;58000000;;;;;OPENING BALANCE;;;;;;;;20,121,673;
corresponds to an opening balance line for account 58000000 (Opening Balance or Suspense Account).
2. Should this line be kept?
Keep if:
You want to reconstruct the initial balance of the Local Currency Bank 1 journal in the new Local Currency Bank 2 journal.
You are performing a complete transfer of entries and you want the balance to be consistent from the beginning of the period.
You want the bank reconciliation to start with the correct balance.
Delete if:
You are going to recalculate the opening balance in the new journal from the imported entries.
You want to avoid duplicates or confusion in the balances.
You already have an opening balance in Local Currency Bank 2.
Recommendation 3
If you import entries into Local Currency Bank 2 from January 1, 2024, onwards, it is generally best to keep this line to ensure the initial balance is accurate. However, make sure that account 58000000 is correctly configured in the chart of accounts of the target journal.
2
| 105,000 mlx | |
| 166 | |
| 2 |