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Dynamics 365 Business Central – How I post opening balances for the General Ledger in Business Central

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Dynamics 365 Business Central

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Jun 11, 2024

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AI Summary

  • The article discusses different methods for posting opening balances for the General Ledger in Business Central.
  • The first method involves posting total opening balances as of the go-live date in one journal.
  • The second method includes posting opening balances for a set period prior to the go-live date and additional period balances leading up to the go-live date.
  • The third method entails posting opening balances followed by detailed transaction information for a set period.
  • The author recommends using Method 2 for greater detail and comparison reporting capabilities.
  • A predefined configuration package is used to export/import data for all methods.
  • Control accounts like Sales and Purchase control accounts should be reconciled to imported transactions.
  • The article emphasizes the importance of historical financial reporting and efficient data entry processes when posting opening balances.

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