Why Use This Procedure?
The Opening Balance procedure is used to manually enter the opening balances for accounts in the Chart of Accounts. This procedure is mainly used when you install a new company in MONITOR.
When you have used the MONITOR system for an accounting year and you start the year-end closings by switching year, the opening balances are automatically transferred to the new year.
The opening balances can be entered at account level but also at the sub-levels called cost center, cost unit and project. To be able to enter opening balances at sub-levels, the account in question must manage these sub-levels. This is indicated for the account in the Chart of Accounts procedure.
When entering, the total of the entered amounts is constantly shown and updated. When the amounts for all the balance sheet accounts have been registered, the total should therefore be zero.
To register the opening balances, it is important that you save after each entered balance.
Here you may also load the opening balances from previous year. You can do this an unlimited number of times.
You can print the registered opening balances in the Opening Balance List procedure. There you may also update the amount and quantity for these.
Window Functions
Read more about the Window functions under Window Functions in the MONITOR Basics.