Retained Earning Balance - Printable Version +- webERP Forum (http://www.weberp.org/forum) +-- Forum: webERP Discussion (http://www.weberp.org/forum/forumdisplay.php?fid=1) +--- Forum: Problems / Bugs? (http://www.weberp.org/forum/forumdisplay.php?fid=8) +--- Thread: Retained Earning Balance (/showthread.php?tid=983) |
Retained Earning Balance - kelo - 08-01-2013 Hi all, I want to enter beginning balances for 2011 and 2012. It is a cut off data. Data for Retained Earning(RE) is below : RE 2011 Last Year is 25,0000 RE 2011 Current Year is 32,000 RE 2012 Last Year is 57,000 RE 2012 Current Year is 7,000 How to enter this using journal entry ? i know basically we cannot enter retained earning using journal, because data from RE is retrieve from current year or last year Profit/Loss. But this is the beggining balance cut off from other accounting software to weberp. Your respond and reply is very much appreciate. rgdds RE: Retained Earning Balance - phil - 08-06-2013 See http://www.weberp.org/weberp/doc/Manual/ManualContents.php?ViewTopic=CreatingNewSystem You can post directly to the retained earnings account for an opening entry - the postings have to be done through a bank account receipt or payment though for the opening journal as one cannot post journals to a bank account - and presumably the bank balance needs to be entered. So the journal is simply entered as a bank receipt with an analysis between all the GL accounts for the open entry. Quote:However, in bringing a business on to webERP it is the balances that collectively represent the total worth of the business (in historical terms) that are important to record - these are called balance sheet accounts (the expense and revenue accounts are called profit and loss accounts). RE: Retained Earning Balance - kelo - 08-13-2013 The account is too many. We have hundreds of account. Its hard to separate which account that used bank account ( 5 bank account = 5 GL account ). If we removed filter in journal entry under general ledger menu, so we can post journal to bank account / debtor control / creditor control , will it work ? We have the account in excel spreadsheet and the amount is balanced. So if we enter all the account thru journal entry, the trial balance shown in weberp should be balanced too right ? Thanks in advanced for your advise. RE: Retained Earning Balance - agaluski - 05-06-2014 I am in the process of bringing on account balances. I wanted to make 1 G/L Journal entry to match the balance sheet of the prior period however the Bank Accounts is throwing me off as well. If I follow this thread and others as well as review the code and test on my development system it appears the difference between making a Journal Entry to bank accounts (if edit is removed) and making a payment or receipt is the missing bank transaction for recon purposes. Since this is an opening balance I won't ever be able to match it to statement. For the initial load it would be easier to make 1 large journal Entry so I am considering turning off the edit for the day we load. What do the experts say? RE: Retained Earning Balance - agaluski - 05-07-2014 Appears this can be done using Z_ImportGLTransactions.php Convenient RE: Retained Earning Balance - Somyadhawan - 07-20-2017 Why don't you use other accounting software to solve this problem. |