Manage Reference Beginning Balances

During system setup, use the Reference Beginning Balances screen to initialize the beginning balances in the general ledger for reference numbers to be used in data entry.

Reference numbers used as alternate reporting structures are for reporting purposes only and do not contain balances. Before initializing beginning balances, you must first set up your accounts and reference numbers on the Manage Accounts screen and Manage Reference Elements screen, respectively.

If you are initializing Costpoint at the beginning of the fiscal year, enter balances only for reference number balance sheet accounts. If you are initializing later in your fiscal year, do not use this screen. In that case, use adjusting journal entries to establish year-to-date activity amounts for reference number balance sheet accounts. (Initialize year-to-date balances for reference number 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.)

Use this screen only when initializing Costpoint. Once initialization is completed, restrict access to this screen.