Manage Non-Project Beginning Balances
During system setup, use the Non-Project Beginning Balances screen to initialize the beginning balances in the general ledger for non-project account/organization combinations. (Use the Manage Project Beginning Balances screen to initialize project beginning balances.)
Before initializing beginning balances, you must first set up your accounts and organizations on the Manage Accounts screen and Manage Organization Elements screen, respectively, and link organizations to accounts.
If you are initializing Costpoint at the beginning of the fiscal year, enter balances only for non-project balance sheet accounts. If you are initializing later in your fiscal year, enter only beginning-of-fiscal-year balances in this screen. Do not enter a "beginning" balance amount as a starting balance for your Costpoint activity that is actually a mid-year account balance. If you initialize mid-year, use adjusting journal entries to establish year-to-date activity amounts for non-project balance sheet accounts. (Initialize year-to-date balances for non-project income statement accounts with adjusting journal entries also. That is necessary so that the rate calculation programs can recognize and include the balances in the calculations.)
After you enter beginning balances during initialization for both non-project and project accounts, generate the Trial Balance report or General Ledger Detail report to verify that amounts were entered correctly. Once initialization is completed, restrict access to this screen. Thereafter, use it to make post-year-end adjustments to non-project beginning balances.
- Related Topics:
- Display the Manage Non-Project Beginning Balances Screen
You access the Manage Non-Project Beginning Balances screen from the Accounting domain. - Contents of the Manage Non-Project Beginning Balances Screen
Use the fields and options to configure the Manage Non-Project Beginning Balances screen. - Table Information for the Manage Non-Project Beginning Balances Screen
Changes to the Manage Non-Project Beginning Balances screen update several tables. - Subtask of the Manage Non-Project Beginning Balances Screen
The Manage Non-Project Beginning Balances screen has the Transactional Currency Beginning Balances subtask.