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Initial Balances

Loading initial accounting balances requires special care, as the balances of certain accounts, such as Cash, Banks, Accounts Receivable, Accounts Payable, and Inventories, should only be moved through specific documents, and not through direct accounting transactions.

To facilitate the loading, temporary accounts should be created, for example, 111999, 113999, 213999, and 115999, with the description "Initial Balances". These accounts must be at zero at the end of the loading process and then be inactivated.

Additionally, the corresponding Account Combinations and Charges must be created for these temporary accounts.

Finally, an initial journal entry is prepared for the period preceding the month in which the system begins to be used.

Initial Accounts Receivable Balances​

Accounts Receivable invoices must be recorded for specific business partners. To do this, use the menu:

Sales -> Sales Invoices -> Sales & AR Clients

In the document header, enter the invoice details. In the lines, enter a quantity of 1 and use the charge you created previously (113999). In this way, the system will assign the account receivable to the business partner and credit the initial AR balances account (113999), which must end at zero.

Initial Accounts Payable Balances​

Accounts Payable invoices are recorded in a similar manner, using the menu:

Purchases -> Invoices & AP Vendors

In this case, use the charge associated with the initial AP balances account (213999).

Initial Inventory Balances​

Inventories can be loaded through the Physical Inventory menu:

Material Management -> Physical Inventory

This option is suitable for small quantities of products. For large batches, it is recommended to use data import:

System Administration -> Data -> Import Data -> Import Inventory

Before importing, you must perform the following additional steps:

  • Define a Charge for Initial Inventory Balances (e.g., 115999).
  • Create a Document Type called MM Cost Adjust.
  • Verify that Warehouses have a default location.

Import procedure:

  1. Create a CSV file: The easiest way is to create a manual physical inventory record and export it to CSV. Then, use that file as a template to load the rest of the products.
  • Key data to include: Organization, Document Type (Physical Inventory), Movement Date, Location, Product, Counted Quantity (Initial Stock), and Current Cost.

  1. Process the file: Once the CSV file is ready, go to the Import Inventory option and run the process.

  2. Verify and complete the document: If you leave the document option blank, the Physical Inventory record will be created in draft mode. You will have to complete it manually.

When processing the Physical Inventory document, the system will adjust the physical stock and the cost. The accounting adjustment will be recorded in account 515615 - Gain or Loss on Physical Inventory Adjustment. You will need to make a subsequent journal entry to move this balance to the temporary initial inventory balances account (115999) that you created previously.