As part of the SDS changes, we've expanded the Account Group structure in the Reserves, Shareholder funds & Other folders to include a folder for every Reserve type (under Reserves) and the different Share types (shareholder funds) and for Other (any additional equity items). You'll find 4 subfolders under each Reserve type, Share type, and Other.
You'll need to move the relevant codes into these folders for the Statement of Changes in Equity and post a journal for the opening balance account and the movement.
- We've not mapped the account codes to the correct folders because you may have mapped the account codes differently for each item. And not all charts have existing codes.
- You need to make sure that the movement codes balance forward to the opening balance are in the Balance Forward Accounts table.
- There is no restatement account code for Profit in the MAS chart of accounts. If you want, you can create a 637 Restatement code when posting a journal. Also, update the balance forward accounts to have restatement account roll forward to the retained earnings.
- If there is a loss for the year, you need to update the account group folder name from profit to loss. This is due to the limitation where we were unable to use conditional text or account group folder name.
| UI Expand|
|title||Posting a journal to opening balances account and movement|
We've used MAS - Company chart for this example.
Post the journal to raise the current year movement/other comprehensive income or restatement to opening balance.
| UI Text Box|
In this screenshot, we've posted all 3 in a single journal to show where the amounts will be picked up.
- Remap the account codes to the correct Reserve folder.
- You'll see the following in the reports.