Adding an opening balance element in a foreign currency
Once the mandatory fields in the opening balance document are filled in, it is possible to add an element. To add the element, click the [Add through Form] button in the Elements button group.
The form of the opening balance document element will be opened.
Figure 39 Form of the opening balance document element with an account in foreign currency.
To add an opening balance for an account in a foreign currency, the following fields must be filled in:
Account – number of an account in a foreign currency on which the opening balance will be saved. The account can be selected from the chart of accounts that opens upon clicking the [Account] button. The list of accounts can be freely edited from the chart of accounts level. Select account in foreign currency. This field is mandatory
Customer/Vendor – name of a company the document is assigned to. Customer/vendor can be selected from the customers/vendors list that is opened by clicking [Customer/Vendor] button. That list can be freely edited from the customer/vendor form level
Posting Date – date of registering a given document into the system. Posting date must be included in the accounting period’s time range. Otherwise, the system will not allow to enter the data
Amount Dr – this value can be entered manually or with the use of arrows
AmountCr – this value can be entered manually or with the use of arrows
Note: The system does not allow to save an empty element, that is the element which amounts value is zero. In such case, the following message will be displayed: ‘Cannot add an element which value equals to zero’.
To select a conversion rate by which the system will recalculate the opening balance amount into the system currency, specify the exchange rate type by which the document must be calculated. If the default exchange rate is defined in the system on the OB document date, that rate will suggested automatically.
Figure 40 Selecting type of exchange rate in OB document for an account in foreign currency.
Then, select the date of retrieving the exchange rate.
Figure 41 Selecting the date of retrieving the exchange rate in OB document in foreign currency.
After specifying the exchange rate date, the defined conversion rate will be automatically displayed.
If you select a manual type of exchange rate, you need to enter its value.
Figure 42 Entering value of manual type of exchange rate in OB document in a foreign currency.
Tab Amounts
In this tab it is possible to associate the amounts with documents. For a given amount, a number and a document date are specified. The buttons for maintaining the list of amounts become active when in this tab. The user may add, edit or delete a given amount.
Tab Payments
In case of selecting a customer/vendor directory account of clearing type in opening balance item, a payment is created for that item automatically. The created payment is subject to the same rules as payments generated for trade documents and those generated manually.
After all the mandatory fields are filled in, save the element.
Once the element is saved, you will automatically return in the opening balance document form.
Then save the entire document. There are two options of saving the document:
Confirm – upon confirmation, the document becomes binding. It cannot be neither edited nor deleted. It can only be canceled by generating a correcting entry to it. The document will be displayed on the list of opening balance documents. A correcting document will be displayed in red. The correcting entry can be also confirmed or saved as unconfirmed
Save – unconfirmed document. An unconfirmed document is not binding. It can be freely edited and deleted
Upon saving the document, it will appear on the list of opening balance documents.