I am brand new to Acumatica. I entered in our Trial Balances as of 02/29/2024. Our go live date was 03/01/2024. I did not take into account checks written in Acumatica prior to go live. Also, there were some prior year adjustments, which affected my FY beginning balances. My question is: do I post journal entries as of 3/1/2024 or can I enter trial balances for 3/1/2024? If I enter trial balances for 3/1/2024, will this negate all transactions on 3/1/2024?
Trial Balance Incorrect as of Go Live Date
+18
Hello,
Welcome to Acumatica Community! I am delighted to try answering your very first question.
When importing Trial Balances via Trial Balance screen in Finance module, the ending balances on the period are replaced with period ending balance numbers from your Excel sheet. Trial Balance screen “forces in” proper ending balances for the period being loaded.
We can’t correct beginning balance for March 1 with an entry to March: we correct beginning balance for March 1 with a Trial Balance import to February’s ending balances.
I think the solution is to correct each period, starting from first incorrect period, one period at a time.
- Is December 2023 ending balance correct now?
- Is January 2024 ending balance correct now?
- Is February 2024 ending balance correct now?
- Is March 2024 ending balance correct now?
- For the first period where you answered NO above, reload correct Period-end balances using Finance → Trial Balance screen. Release and post the resulting entry.
- Check the Trial balance for the period you just corrected. Is it correct?
- If No, try steps 1 and 2 again. If yes, proceed to #4.
- Check the Trial Balance for the next sequential period, after the one just adjusted. Is the next period correct?
Continue forward in chronological order to verify and correct each period, reloading Trial Balances as needed until you are satisfied.
Laura
Thank you so much for the assistance Laura.
Denise
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