Copy opening balances Queries

[Former Member]

Hi,

we are using copy opening balances DMP to bring the prior year closing balance to the  current year opening balances.

I have tried to copy opening balances only for the LC, and when the consolidation is run, I dont see the opening balances in USD for the groups (I only see opening flow balances in USD only for non group). I am  able to see USD opening balances in the group only after selecting the currencies LC and USD  while running the DMP.

My queries are:

1. I am not sure if we need to bring in the opening balances to the target period only for LC or for all the currencies. Please let me know how to take this forward.

2. When USD is selected in the DMP, what does the system bring as opening balances? (Are they the uneliminated non group balances). If so, also let me know if the eliminations and adjustment rules should be included for opening flow for getting the intercompany eliminations.

Regards,

Shilpa

[Former Member · Accepted solution]

Hi,

I always copy opening balances in all currencies (LC, USD, EUR, ...) that I use. That way I do not need to re-convert the opening balances which allows me to convert accounts at "historic" rates.

In your eliminations and adjustments you can specify the opening balance flows if you want to treat them in a specific way, for example for entities with changes in ownership etc.

BR,

Arnold

[Former Member]

Hi Shilpa,

We only carry forward  the  I and M type of data in BPC. The A type of data will be calculated by the system using some or the other logic .With respect to the currencies, you can carry forward the currencies excluding LC also. However, you should not run currency translation on these types of accounts.

Khokan