Introduction

The debit or credit balance of a ledger account brought forward from the old accounting period to the new accounting period is called opening balance. This will be the first entry in a ledger account at the beginning of an accounting period. The opening balance is being captured based on Department, fund, function etc are based on how system is configured.

If an ULB is using another accounting system, firstly ULB should close financial statements in that system. Then closing balance of the accounts should be updated as an opening balance in the new application.

Data Table

Procedure

Data Definition

• Sr No: Defines the serial no of the line item.

• Financial Year: The Financial year indicates the year for the which the opening balances will be entered for the GL accounts. This can be the opening balance of the year or the date from which the system is going live.

• Department: A department indicates to which the GL code is linked, user while entering the opening balance can select a particular department to which amount will be entered.

• Fund Code : A GL Code can be linked for the validation of the Fund Code, user while entering the opening balance can select a particular fund code to which amount will be entered.

• Function Code : A GL Code can be linked for the validation of the Function Code, user while entering the opening balance can select a particular function Code to which amount will be entered.

• Account Code: A General Ledger Code (GL Code) is a string of 7 to 9 digit numeric characters assigned to each financial entry in an State/ULB ledger. A GL Code can be assigned to different debit or credit entries to make opening balances. A detailed GL code to be provided to update the opening balance.

• Sub Ledger Type: The Sub Ledger type indicates if the GL code is linked to a sub ledger account which is contractor, supplier and employee then the user can select the sub ledger type while entering the opening balances.

• Entity: When the Sub Ledger is linked to the individual entity, user can select a entity while entering the opening balances. So when a subledger is “Contractor” then the value here will be “Contractor code”.

• Credit: If the opening balance for a Financial year or a period of a particular GL account is a credit Balance then user need to update the amount under the Credit column.

• Debit: If the opening balance for a Financial year or a period of a particular GL account is a Debit Balance then user need to update the amount under the Debit column.

Steps to fill data

• Identify all the Ledger Codes for which opening balance need to be entered.

• Download both the attached template and to updated all the details as per the above information in the empty template provided. The sample data template can be used as a reference to fill in the data.

• Read through all the information above before updating the template with relevant information.

Validations

• All the fields with * sign are mandatory to be filled in. Without this information, the system configurations cannot be executed.

• The format of the GL Code to be 7 to 9 digits numeric and unique no repetitive code should be entered.

• The Amount cannot be entered in both the Debit and Credit column for a particular GL code.

• If for a particular account code the data is captured at sub-ledger level then do not have any rows without subledger.

Attachments

• Refer to “Opening Balance Tab” in the uploaded template.

• For sample data reference, refer to the uploaded “sample date” file.