Moving to RockifyERP · Guide 70 of 624

Opening balances for accounts

Opening balances bring the closing balances from your old books into RockifyERP as at your go-live date.

How to do it in RockifyERP

  1. Get the closing trial balance from your old system as at the day before go-live.
  2. In RockifyERP, create a Journal Entry with Entry Type = Opening Entry and the posting date = the day before go-live.
  3. Add each balance sheet account with its debit or credit balance. Leave out income and expense accounts.
  4. Leave out customer, supplier and stock balances. Bring those in with the Opening Invoice Creation Tool and Stock Reconciliation.
  5. Post any difference to the Temporary Opening account, then Save and Submit.

Tip: After all openings are in, the Temporary Opening account should be zero. If not, something is missing.

Related RockifyERP guides

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