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Release 390: Storno Presentation – Opening Balance of General Ledgers (Polish, Czech, Slovakian and Romanian legislations)

Background

Introduction

With the implementation of the storno presentation, Closing balance will be displayed correctly and according to the rules of the storno presentation whenever the settings Reversal entry, Reversal closing entry and Reversal profit and loss general ledger accounts are enabled via System/General/Settings/General ledger settings. However, this was not always the case for Opening balance which was displayed according to the closing balance amount sign (negative credit closing balance will be presented as debit opening balance and negative debit closing balance will be presented as credit opening balance) regardless of the relevant settings.

The differences in the presentation of the opening and closing balances may cause confusion to the users. Therefore, it is necessary to enhance the presentation of the Opening balance in according to the general ledger (GL) account setup and settings.

Menu path

  • Finance/General ledger/Cards
  • Finance/Reports/Interactive balance
  • Finance/Reports/Balance/PL

What has been changed

The Opening balance will always be displayed according to the rules of the storno presentation (as defined in the Balance field in the GL account maintenance) whenever the settings Reversal entry and Reversal profit and loss general ledger accounts are enabled.

This enhancement will affect the Opening balance displayed in the following applications:

  • GL card
  • GL card ?V print
  • Interactive balance (all layouts)
  • Balance/PL (trial balance, period balance sheet)
  • Balance/PL ?V transaction list

The changes are only applicable for Polish, Czech, Slovakian and Romanian legislations when the Reversal profit and loss general ledger accounts check box is selected in General ledger settings. By default, these settings are enabled and hidden for Romanian legislation.

Examples on how the functionality works:

1. Go to System/General/Settings/General ledger settings, under the Entry section, select the Reversal profit and loss general ledger accounts check box.

2. Go to Finance/General ledger/Chart of GL's and define two Neutral type general ledgers with the reporting group Balance sheet as the following:

  • GL 301 – Set the field Balance to Credit.

  • GL 310 – Set the field Balance to Debit.

3. Go to Finance/Entries/General journal and create an entry with "GL 301, Debit 100" and "GL 310, Credit 100", dated "30-10-2007".

4. Go to Finance/General ledger/Cards.

  • Open GL Card 301, select the option Card, and then enter the reporting date as "01-11-2007". Next, select the Show opening & closing balance check box. The opening balance is now consistent with the closing balance.

  • Open GL Card 310, select the option Card, and then enter the reporting date as "01-11-2007". Next, select the Show opening & closing balance check box. The opening balance is now consistent with the closing balance.

5. Go to Finance/General ledger/Cards and click Print. Under the Layout section, select Details at Report.

6. Then, go to Finance/Reports/Interactive balance.

7. Next, go to Finance/Reports/Balance/PL.

8. Go to Finance/Reports/Balance/PL and click Transaction list.

Related document

     
 Main Category: Support Product Know How  Document Type: Release notes detail
 Category: Release Notes  Security  level: All - 0
 Sub category: Details  Document ID: 16.637.321
 Assortment: Exact Globe  Date: 10-05-2017
 Release: 390  Attachment:
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