Generating configuration set opening balances

For each account, the Generate configuration set opening balance option copies the previous year's closing balance for December into the opening balance of the first period of the first year of the configuration set.

Balance sheet accounts’ closing balances must be loaded into December of the previous year. If the full year of actual data is not available and only one period is being loaded, the closing balance (YTD) must be loaded into December.

  1. Click the Home icon.
  2. Select Applications > Financial Applications > Balance Sheet > Data Entry > Input Opening Balance.
  3. Select the entity and version for which to input balances.
  4. Click Generate configuration set opening balance.
  5. Select the version from which to copy opening balances.
    December of the previous year is the source period.
  6. Click Save when the process is complete.