I would be careful using voucher type Q for opening balance transfer. It is much better to use dedicated voucher of function group M.

Then - opening balances should be transferred in accounting period PRIOR to the first “operating” period in the company, e.g. if your company in IFS is active since period 2021-01, to migrate opening balances you should use period 2020-12 or 2020-13. 

And of course all balances related to subledgers (inventory, cash, supplier and customer open items, fixed assets, tax ledger) should be migrated to subledgers as relevant subledger entries (FA import, inventory receipt, invoice entry, mixed payment) - usually clearing accounts are created for reconciliation of subledger migration with GL opening balances. 

Once migration is completed and reconciled, regular year-end process is to be used, to create balances and optionally vouchers in period 0 of first operating accounting year.

I hope this explanation is clear enough.

Hi, just to add the period 0 balance is a result of year end of previous year. 

Hi,

Another point to be added,

Users can’t select the ‘Accounting Period’ using LOV of ‘Voucher Entry’ window. It could also be seen that LOV option is disabled for the ‘Accounting Period’ field in ‘Voucher Entry’ window.

Instead you may select relevant date using ‘Voucher Date’ and relevant accounting period will be fetched accordingly.

For an example, if my accounting year is 2021 (from 1/1/2021 – 31/12/2021), and if I select the voucher date as 1/1/2021, the accounting period will pop up as ‘Period 1’.

Best Regards

Sugandi

Hi Ansuman,

It is not possible to create manual voucher to period 0.

Voucher type YE is used for year period 0.

Voucher type YE is only used when you perform final year end. Closing balances of the previous year will be transferred to new year’s period 0 using voucher type YE when you run the ‘Final Year End’.

Therefore, if you want to update the balances for period 0 of 2020, you will have create vouchers for period 12 of year 2019.  (Voucher type Q or any M type)

After that, do a year end for 2019. Then balances for period 0, 2020 will be updated.

Hope this helps.

Shehan Almeida.