G/L Account Opening Balance

[Former Member]

Hi all,

I'm using SAP 9.1 PL00.

I'm using G/L Account Opening Balance function in System Initialization. And I see transaction recorded in Journal Entry one by one flow every account have opening balance

Why SAP not recorded in one transaction with amount is total?

Where can I set up to opening balance recorded one transaction, if any?

Regards

Hong Bich

[kothandaraman_nagarajan]

Hi,

As per  accounting principle, left side total should be equal to right side account. If this not equal, result of standard financial report is not correct.

Thanks & Regards,

Nagarajan

[KennedyT21]

Hi Hong Bich Tran...

According to the standard it will record the opening balance as separate entry.. for easy tracking and reconciliation individual transaction,

if it is consolidate one which will lead to lot of confusion at the time of reconciliations, also according to the accounting principle it should be separate entries, not the consolidated one. if u need a report you can take easily in the sap b1 standard reports itself..

hope understand.

Regards

Kennedy