Inputting opening balances manually
Opening balances for the invoice ledger accounts
Comparison data
Import of opening balance data with a file
Verification of balances
In this section, we will review what actions need to be taken for a new accounting company after the settings and registers for that company in Heeros Accounting have been completed.
You can start daily ongoing accounting in Heeros Accounting even if the opening balances have not yet been entered. If accounting has been done previously in another system, historical data can be imported into Heeros Accounting either manually or the data can be imported. Depending on the situation, the best solution is considered, whether to import other comparative data in addition to the opening balances, and if so, whether to import them on an annual, monthly, or entry basis.
If Heeros Accounting is implemented during the financial year, the accounting events at the beginning of the financial year can be entered through the event entry in the usual manner or imported from a file. The data can be imported either with event accuracy or alternatively only the monthly changes to the last day of each month.
Inputting opening balances manually
Opening balances are entered in the Events – Open or Events – Private view. In addition to the opening balances of the balance sheet, income statement balances can also be entered as comparative data.
Voucher type 99 Opening balances is set by default to be tax-exempt, meaning that value-added tax is not processed on the opening balances. You can also enter the opening balances using a voucher type you created yourself, as long as it is defined as tax-exempt. You can read more about voucher types here.
All opening balances are entered on the last day of the accounting period under the same voucher number.
You can add input fields to the view if you want to enter opening balances for cost units. You can add fields by clicking the Selection of Input Fields button.
Amounts are entered into the system according to the entry: debit entries as positive, credit entries as negative.
You can add columns to the view to check the entered data using the Columns button. By displaying, for example, debit and credit columns, you can see that the entries are recorded correctly. The VAT column allows you to check that no value-added tax is being processed from the opening balances.
For more information on entering accounting events, you can read here.
Opening balances for Invoice ledger
Read more here.
Comparison data
In addition to the opening balances of the balance sheet, you can enter the income statement balances as comparison data. If you want a monthly comparison from the previous financial year, the income statement and balance sheet from the preceding financial statement are entered on the last day of that financial period, along with the monthly changes from the previous financial year on the last day of each month. The voucher type 99 can be used as the voucher type for opening balances in these cases. This voucher type is defined as tax-exempt by default. Therefore, VAT is not processed on the entered entries, even if the account has a VAT code.
Importing balances with a file
Transactions can be imported into Heeros Accounting from another system through the import of transactions. Read more about transaction imports here.
Note! If comparison data is imported with net amounts, it is advisable to perform the import with a non-taxable voucher type, in which case value-added tax will no longer be processed for the entries in Heeros Accounting. Alternatively, during the import, you can define that company's status as completely non-taxable on the VAT tab of the general settings. However, this must be changed back before other entries start to be recorded in the accounting.
Opening balance verification
By printing the income statement and balance sheet, you can verify that the initial balances have been entered correctly. Compare the income statement and balance sheet you printed from Heeros Accounting with the originals.
Reports are printed from the Events – Open view using the Reports button. Read more about printing reports here.
If you notice an incorrect entry, you can correct it in the event input (Events – Open or Events – Private). Read more about editing entries here.