Opening Balances

Entering Opening Balances

Pgm: EMOPBAL – Opening Balance Entry; standard Treeview path: Equipment Costing > Utilities > Opening Balances > Opening Balances Entry

The Opening Balances screen is used to enter the opening balance entries for an equipment item which has revenue or costs already reported in the general ledger. When the opening balance is entered, it will record the opening balance in the equipment costing module but not the general ledger.

Company

Enter/select company code. By default, the user's default company will be displayed. 

Batch

Use the [Create Batch] button to create a new opening balance batch.

Opening Balances

Equipment

Enter equipment code which has costs or revenues to be recorded.

Balance Type

Select the balance type. The choices are “Cost” or “Revenue”.

Transaction Date

Enter the transaction date.

Transaction Code

Enter/select the transaction code.  The balance type chosen will limit the transaction codes to either cost or revenue codes.

Company (Job Company)

Enter/select the job company code.

Job/Phase/Job Category

If there have been entries for job, phase and category these will default and may be adjusted.

Amount

Enter total amount of the cost or revenue being recorded.

Posting Opening Balances

Pgm: EMPST – Posting Opening Balance; standard Treeview path: Equipment Costing > Utilities > Opening Balances > Post Opening Balances

Use this posting screen to post opening balances created from the Opening Balances screen.

Batch Type

The batch type will default to “Opening Balances”.

Batch Number

The batch number will be limited by the batch type selected.

Post Date

Enter the posting date. The system defaults to the current date but this can be updated.

Journal Code

Enter/select journal.  The system defaults the journal code indicated on the Equipment Costing Control File (standard Treeview path: Equipment Costing > Setup > Local Tables > Control – Control tab).

Preview Posting – Checkbox

To preview the posting report(s) before posting, check the ‘Preview Posting’ checkbox and click the [Post] button.

Print Reports Immediately – Checkbox

Check this box to print the posting report immediately after posting. If left unchecked, the posting report will not print during the posting process but can be printed at a later time using the posting utility.

Use the [Post] button to post the batch.