Entering Balance Forwards When You Create An Account
You can only enter balance forwards when you create an account if you haven’t selected the Balance forward entries completed check box in Module Preferences.
There are two ways to enter balance forwards. One way is to enter them when you create your accounts and another way is to enter them as journal entries. It is important to understand that when you enter your beginning balances when you create an account, the starting date for your beginning balance is automatically set to the last day of the period preceding the first period of your fiscal calendar. For example, if your fiscal calendar begins on 01/01/2012, when you save your general ledger account and click on the Period Totals tab, you will notice that the start date shows 12/31/2011. If you want the beginning balance for your accounts to show a specific start date, we suggest you enter them as journal entries instead of when you create the account.
To enter beginning balances (balance forwards):
1 Select Chart of Accounts > Add / Change Accounts from the left navigation pane.
2 Enter the account information on the General tab. Enter the beginning balance for this new account in the Balance Forward field. For specific information on the options or fields in this window, select the Help button or press F1.
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Click thumbnail to view Fund image.
3 When the fields on this tab are complete and you entered your beginning balance, click Save to keep this account. You can now click on the Period Totals tab to view the balance forward information.
4 Repeat the preceding steps until you finish creating and entering balances for your new general ledger accounts.
After you enter all of your account balances, you must check the Balance forward entries completed check box in Module Preferences. Once you select this check box and save the GL Module Preferences window, the check box is disabled for this organization (see Entering Beginning Account Balances (Balance Forwards)).
If you later find that you need to add an account to your chart of accounts, refer to Creating Accounts for instructions.
Published date: 09/30/2021