- The article discusses methods for posting opening balances for Sales and Purchase Ledger in Dynamics 365 Finance.
- The author recommends importing outstanding Sales Ledger transactions and balancing them to the Accounts Receivable control account.
- Method 1 involves balancing each Sales Ledger opening balance entry to the Accounts Receivable code, which can cause issues if entries are reversed.
- Method 2 balances each entry to a Suspense Account and then reverses the balance to the Accounts Receivable GL code.
- Both methods aim to ensure that the "Aged Accounts Receivable" report matches the Accounts Receivable GL balance.
- The author emphasizes the importance of reconciling source system data before importing opening balances.
- A data pack in Excel format is provided to clients for easy import of opening balance transactions.
- The article concludes by highlighting the potential issues that may arise with Method 1 and the benefits of using Method 2 for posting opening balances.
Registered users can view the full text for FREE!
Sign In Now!
