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How to insert new balances for Vendors and Customers in a new company in Business Central

Inkey, April 14, 2022 3768 Views

Requirement:

We had a requirement to import the balances of the Customers and Vendors in a fresh instance.

 Issues:

• The master data wasn’t imported in the system.
• No direct way to post the opening balances in the system.
• While posting the balances there was an error related to the General Journal posting.

Solution:

• Master data was imported in the system using the steps mentioned below.
• To post the direct opening balances of the Customers and Vendors we used General Journal’s lines and then posted the balances which was then visible in the customers and vendors list.
• To resolve posting error, we did the General Journal posting setup and associated the correct G/L account.

Pre-Requisite:

• Master data should be imported in the system.
• General posting should be setup in the instance.

Kindly check the below mentioned steps for the importing of the master data:

•  Configure a new company, insert all the necessary information in the company.

• Click on the Tell Me icon. Enter “Assisted setup” and click on the related link. Click on the “Migrate Business Data” link.

• Data Migration wizard will open. Click on the Next

• Click on Next button again. Here we are using the Excel way to import the data in Business Central.

• Click on Download Template and follow the on screen instructions.

• An excel template will be downloaded in your local machine. Fill the excel template with the appropriate data. Click on the Choose button to select the excel template.

• Choose the downloaded template. Open the configuration worksheet and import existing data about customers, items, vendors, and the general ledger. Click on the Migrate button.

• Click on the OK

• Click on the Finish button.

Follow the below mentioned steps to import the balances of the Customer and Vendor.

• Click on the Tell Me icon and type “General Journal”, click on the related link.

• General Journal page will open. Click on the 3 dots, to create and use a new general Journal batch.

• Click on the New button, create a new batch named as OPBAL and click on the OK button.

• Click on the Actions >> Opening Balance >> Prepare Journal >> Customer Opening Balance.

• Once we click on the Customer Opening Balance, all the lines with all the customers will be auto populated by the system itself.

• Insert the important information like Amount, Bal. Account Type, Bal. Gen. Bus. Posting Group, Bal. Gen. prod, Posting Group and Bal. Gen Posting Type.

• After all the information is inserted, click on the Post button to finally post the entries and balance.

• Go to Customers to check if the Balances are now posted.

This was how we managed to import the balances of the Customers and Vendors in a fresh instance.

Hope this helps!

 

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