To enter an opening balance (IB) into 24SevenOffice, it must be done as described in this help file for it to be correct!
NB! It is very important that you read thee bookkeeping help file before you start submitting an IB, so that you are up to date on how to manage 24SevenOffice versus other systems.
The following points are important before you start entering IB:
1. Double check that the incoming balance is correct to release corrections.
2. Check Balance Balance with IB for last year. Look at UB there and check that accounts 1500 and 2400 are correct.
3. Customize your account plan before you start posting IB.
4. If there is IB for the current year, the figures should be entered on 31.12 of the previous year. The bundle date and the filing date must then be 31.12 in the previous year.
5. Remember to create accounting years for the previous and current year under Accounting - Accounting - Settings - Financial Year.
6. Always use VAT code 0 when entering the opening balance.
7. Due to the way 24SevenOffice handles account entries, account ranges 1500 through 1529 and 2400 through 2429 are blocked for manual entry.
8. Post customers and suppliers to your customer base before submitting IB (or it can be done at the same time). Customer number / supplier number must match that of customer number in 24SevenOffice.
Balance of Balance
Scan the Balance of Balance from the previous year, provide the stamp number in the receipt, send to bookkeeping, create a new bundle and use the date 31.12. for the previous year. Here you can use a variety of document types or an incoming balance sheet type. Both are directed towards the same number series. Kontan UB debit and credit (31.12.) Which will become IB for the current year.
1500 and 2400 are blocked for directing, and you must have a customer number when using these accounts. Create an interim account 1499 and 2399 and enter the entire balance of 1500 and 2400 against these interim accounts.
Open records customers and suppliers; account accounting split up on each customer
Scan open records for customers and suppliers.
Enter customer for customer and supplier for supplier with debit / credit 1500/2400 against customer number.
Here you can enter +/- customer number in the debit / credit column which will be converted to 1500/2400 and linked to the correct customer. (+ is money in customer, - is money in, supplier).
If you want open vendor records to be added to a bank module payment, you must use document type 1 for Incoming Invoice. If you do not do this, the document type is used differently. Use the number range suggested by the system.
Tip: Use CTRL + Enter to copy a line to continue on the next line.
Once you have entered all open records 1500/2400, you enter this against the balance of 1499 and 2399.
Example of entry of opening balance at year-end
You must enter the following numbers, parentheses:
Customer A (1500): 8,000
Customer B (1500): 8,000
Customer C (1500): 9,000
Bank (1920): 40,000
Share capital (2000): 18,000
Vendor A (2400): 30,000
Supplier B (2400): 17,000
First, create interim accounts:
Account 1499 Interim account customer account
Item 2399 Interim account supplier account
Then go to bookkeeping and create a bundle with date 31.12.20 × 0 (previous year), here we use 31.12.2014. For example, you can name the bundle "IB 2015".
What you need to enter are all accounts between 0-2999. Instead of bringing in all customers in the IB, you are moving towards the interim accounts instead. Customers A, B and C have a total sum of 25,000, and you must then deposit 25,000 towards account 1499, which is the interim account for customer accounts. Vendors A and B have a total amount of 47,000 that you have to keep against account 2399, which is the interim account for supplier accounts. Thus, the lead is like this, where the document type is variously used:
Post the opening balance, and then create a new bundle to distribute the residual account items to the various customers and suppliers. When you direct directly to customers and suppliers, you should use the invoice date (applies to both incoming and outgoing invoices). Remember that the bundle must be created with a date that is within the same year as the invoice dates.
Example of entry of opening balance in the middle of a financial year
First you must enter IB 31.12.x0 if you want the IB from the previous year in the accounts. On 01.01.x1, you must return the same IB as you entered 31.12.x0 so that all balances are zero. Then, keep the IB on the date you take over the accounts. ex. 30.06.x1. Then you include the costs and revenues too, unless the accounts are closed and profit transferred to eg. Equity. When you then take up a balance of balance with IB, you will get the IB from x0 as IB, and UB will be the total balance for x1.