Entries at the start of a year

To upgrade your various accounts, create a Journal of type Situation in Centralized counterpart mode to avoid a counterpart on each line.

For each account that needs upgrading, enter account data in the journal. For this operation use the menu Financial Management ‣ Entries Encoding ‣ Entries Encoding by Line.

You can also use Open ERP’s generic import tool if you load the balance of each of your accounts from other accounting software.

Example Steps:

1. Financial Management -> Configuration -> Periods -> Fiscal Year : Create a fiscal Year with monthly periods

2. Financial Management -> Configuration -> General Accounts -> Accounts Definition : Create an account ‘Opening Balance Account’ (Account Type: ‘Equity’ (not sure about that, but it’s working), Sign: ‘Positive’, Deferral Method: ‘None’, Reconcile: ‘No’)

3. Financial Management -> Configuration -> Journal -> Journal Definition : Create a new Journal ‘Opening Bal Journal’ (Type: ‘Situation’, View: ‘Journal View’, Entry Sequence: ‘Account Journal’, Default Debit Account: ‘Opening Balance Account’, Default Credit Account: ‘Opening Balance Account’, Centralized Counterpart: ‘Yes’)

4. Best to create a csv-file with the first line:

   “Account”,”Effective date”,”Journal”,”Name”,”Period”,”Debit”,”Credit”

   And the data-lines like this:

   “1000”,”2008-01-16”,”Opening Bal Journal”,”Opening Balance Entry”,”01/01 - 31/01”,0,53828

5. Financial Management -> Entries -> Entries by Journal : Choose ‘Opening Bal Journal’

6. Menu Form -> Import dat‘: Choose the file to import, ‘Auto Detect’, ‘Ok’