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https://help.myob.com/wiki/x/qQF3AQ
Now that you have configured a common ledger, check that the balances in your client's data file is the same as the balances in your ledger. This can be done using three different methods:
| Method | Description |
|---|---|
| Perform opening review | Best to use if you have been using a MAS, Accounts or AO Classic General Ledger. Changes are posted to the ledger. |
| Modify prior year balances | Changes are not posted to the ledger. |
| Manual journals |
I
It's important before you start working using the common ledger that you check if your clients data file is the same as yours.
My client's ledger balance in prior year and past 5 years is the same as mine, continue to Define Balance Foward Accounts
Where your client's trial balance is different to yours, you'll need run a comparision with the two trial balances and post journal into the SME file to bring them into alighment.
There are a number of ways to do this depending various requirements. Use the table below to determine the most effective way of updating.
| 1 | Do a manual journal in the ESS or ARL to adjust the balances to match yours | |
| 2 | Run the Perform Opening Review routine (video??) | |
| 3 | Run the Modify Prior year Balances rountine |
The Perform Opening Review feature compares the account balances from the current general ledger product with the corresponding account balances in the client's AccountRight or Essentials ledger.
Where there are differences between the two, the Perform Opening Review feature posts journals to the AccountRight or Essentials ledger in order to align it with the general ledger product. The updated ledger can then be used as the general ledger for the client.
It is important to note that in order to compare the balances between the existing accountant's ledger and the client's AccountRight or Essentials ledger, the two ledgers must be on the same period. In AccountRight version 2015.4 or later, it is possible to roll back one year in case the SME ledger has rolled forward prior to the opening review.
3. Upon completion of the steps, a journal will be posted to the AccountRight or Essentials to make the balance in the client ledger the same as the accountant's ledger.
The Modify Prior Year Balances feature enables adjustments to be made to the prior year balances that are stored within a configured ledger.
This feature does not update the underlying ledger with these adjustments. The modified balances are stored separately and used by Client Accounting only.
Using the trial balance of the accountant's ledger as a guide you can also process a manual journal into the AccountRight Live or Essentials file to make the balances agree. If the AccountRight live file has been rolled over to the next year, you can roll back a year to enter transactions in the previous year.
, you can Perform an Opening Review to....
important before you start working using the common ledger that you check if your clients data file is the same as yours.
My client's ledger balance in prior year and past 5 years is the same as mine, continue to Define Balance Foward Accounts
Where your client's trial balance is different to yours, you'll need run a comparision with the two trial balances and post journal into the SME file to bring them into alighment.
There are a number of ways to do this depending various requirements. Use the table below to determine the most effective way of updating.
| 1 | Do a manual journal in the ESS or ARL to adjust the balances to match yours | |
| 2 | Run the Perform Opening Review routine (video??) | |
| 3 | Run the Modify Prior year Balances rountine |
The Perform Opening Review feature compares the account balances from the current general ledger product with the corresponding account balances in the client's AccountRight or Essentials ledger.
Where there are differences between the two, the Perform Opening Review feature posts journals to the AccountRight or Essentials ledger in order to align it with the general ledger product. The updated ledger can then be used as the general ledger for the client.
It is important to note that in order to compare the balances between the existing accountant's ledger and the client's AccountRight or Essentials ledger, the two ledgers must be on the same period. In AccountRight version 2015.4 or later, it is possible to roll back one year in case the SME ledger has rolled forward prior to the opening review.
3. Upon completion of the steps, a journal will be posted to the AccountRight or Essentials to make the balance in the client ledger the same as the accountant's ledger.
The Modify Prior Year Balances feature enables adjustments to be made to the prior year balances that are stored within a configured ledger.
This feature does not update the underlying ledger with these adjustments. The modified balances are stored separately and used by Client Accounting only.
Using the trial balance of the accountant's ledger as a guide you can also process a manual journal into the AccountRight Live or Essentials file to make the balances agree. If the AccountRight live file has been rolled over to the next year, you can roll back a year to enter transactions in the previous year.
Configuring the client (AE Help)
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