Automatically update previous and initial balances

Automatically update previous and initial balances

To automatically update previous and initial balances:
  1. Access the accounting entries page: Accounting menu, Financial accounting , Entries .
  2. On the Journal Entries page, double-click on an Opening Balance entry to open the Opening and Previous Balances page.
  3. Refresh previous and/or initial balances:

    1. To update previous balances from the closing balances of the previous fiscal year: context menu, Refresh previous balances:



    2. To carry over previous balances to the initial balances: context menu, Replace initial balances:

  4. Click the OK button To validate. The initial balance entries are updated.
Info
To update the initial balances, you can also use the Update Initial Balances action in the Closing functionality. For more information, see the Update Initial Balances article.