Introduction to the Nominal Ledger and Associa - Flipbook - Page 144
Opening Sales and Purchase Ledger Balances
These notes apply to the opening Sales and Purchase Ledger balances where conversions are not available.
The nominal account numbers quoted are for a standard Kerridge system.
Create a CRM Customer or Company record and note the record number.
Create a Sales/Purchase Ledger Account – linking to the CRM record. The Account number is user defined – 1
Alpha 4 Numeric format.
Ensure that the Account Type and the Nominal Ledger Control are correct for the account:
Account
Account Type
Nominal Control
General Debtors
Vehicle Debtors General
Vehicle Debtors Finance
Warranty Debtors
< < (Blank)
V
V
W
0100 9300
0100 9304
0100 9305
0100 9308
General Creditors
Vehicle New Creditors
Vehicle Used Creditors
Vehicle H.P. Settlements
< < (Blank)
V
V
V
0100 9500
0100 9510
0100 9520
0100 9535
Once all the accounts have been created use Batch Input of Documents to post the transactions onto the relevant
account.
It is recommended to load the transactions in open item format. Each account should be put on as a batch with
the total of the account as the batch total and the number of transactions as the number of documents. Ensure
the batch total agrees prior to printing the Daybooks.
For each transaction:
Use the original tax point date to age the transactions correctly.
Use the miscellaneous field to indicate that it is an opening balance.
Always quote the original invoice number.
No VAT must be extracted – each transaction will be the current outstanding value – entered with VAT code O.
The analysis code for Debtors will be the Opening Debtors balance sheet account – typically 0100 9700.
The analysis code for Creditors will be the Opening Creditors balance sheet account – typically 0100 9701.
The total on the Opening Debtor/Creditor account should be the total of the closing position on the old system.
Run an Aged Debtor/Creditor to confirm the ageing.
a)
Opening vehicle debtors should be held on a Sales Ledger account which will not be used by
VSB system. Obviously this account should rapidly clear in the following accounting
period.
the live
b)
Opening vehicle creditors can be stated on the Purchase Ledger account that will be used by
the
integrated VSB system. However, be very careful to ensure that the opening balance
represents the Kerridge
definition of a vehicle creditor. This is a tax invoice that has been
received and posted but the direct debit
has not been processed. If the tax invoice has not
been received in respect of an appropriated vehicle, this
is a P/L Contra creditor in the Nominal Ledger.
Note: Reconcile and allocate as much as possible on your old system to cut down the keying and ensure that
each batch balances prior to printing the daybooks.
Going Live on the Autoline System
01.900.02 – pwise – 01/06/06
Page 139 of 152
