Transfer Preliminary Balances

Explanation

Use this activity to transfer the closing balance of a selected ledger from one accounting year to the opening balance for the next accounting year. A preliminary opening balance can be transferred to the next accounting year an unlimited number of times. When a balance amount is 0, it is not transferred to the new balance.

No vouchers are created with this activity. 

Prerequisites

N/A

System Effects

As a result of this activity, the preliminary transfer updates period 0 with opening balances for the new accounting year for the selected ledger.

Window

Preliminary Year End

Related Window Descriptions

Preliminary Year End

Procedure

1. Open the Preliminary Year End window.
2. Enter the ledger ID for which you want to transfer the preliminary balances. The List of Values can be used to select the required ledger ID.
3. Enter the accounting year from which you want to transfer the closing balances.
4. Enter the accounting year to which you want to transfer the balances.
5. To start the transfer,  click OK. A message is displayed when the transfer is complete.
6. Click Print to print the report to verify the transfer. You can also view the report by clicking Preview. The report can also be found in File/Info Service /Report Archive.