Copying Opening Balances for Reported Values

You can use this function to copy values from one or more companies to the account for opening balances. This function can be useful, for example, after a change of year and during simulation of budgets or forecasts. The OB actuality and period are automatically loaded from the Define Submission function.

Reconciliation Codes

To be able to copy opening balances, you must have defined accounts with the reconciliation codes J or L in the account structure. Code J is used to enable reconciliation and copying of the opening balance to be carried out. Code L is used to change sign during reconciliation or copying.

For more information, see Define Account Structures - the Define Tab.

What is copied?

The opening balances will be copied in the specified currency for the reported values and there will be a check of the period’s form set. Period values and detail information on intercompany balances are copied.

If you select the option to clear before copying, existing OB accounts for the reported values for the current selections will be overwritten.

Change the Journal Type to Reported Value

When you copy values over year-end, you can define the journal type, so that it changes to another journal type or is moved forward becoming a reported value the following year. You define this on the Journal Type tab, using the Maintain/Configuration/Define Closing Version/Journal Types menu.

If you have set the journal type to be copied to a reported value the following year, this means that you must also run the copy routine, using Company/Copy - Opening Balances for Reported Values. The rules for copying opening balances for reported values will then take over for the journal types, which will be carried forward to a reported value. You can only copy the period values for the company journals.

These journal types will not be present as period values or journal entries the following year. They are not included in the Copy - Company Journals Between Periods menu for the following year either.

For more information, see Copying Company Journals.