UBSA1.160 : Access UBS (Accounting): How to fill in opening balance and last year figures

UBSA1.160 : Access UBS (Accounting): How to fill in opening balance and last year figures

Description

The difference between Enter Opening Balances and Enter Last Year Figure.

Environment

Access UBS Accounting

Solution

NOTE:
Both figure to key in only once when start using UBS Accounting. The figures will be auto-updated after year end process.
  1. Enter Opening Balance is to key in the opening amount for the starting period (served as balance b/f for current year/period's ledgers).
  2. Enter Last Year Figure is to key in the closing amount for last accounting year (will be displayed as last year figure in financial reports)
  3. When keying in Enter Last Year Figure, for example: for year ended 31 Dec 2005, we take the amount of Balance C/F as at 31 Dec 2005 for all ledger accounts (all balance sheet accounts and income/expenses accounts); BUT for retained earnings, the amount of Balance B/F as at 01 Jan 2005 should be adopted.

--Source from Access UBS --