Costpoint Online Help

Using the Help Search
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Manage Non-Project Beginning Balances

During system setup, use the Non-Project Beginning Balances screen to initialize the beginning balances in the general ledger for non-project account/organization combinations. (Use the Manage Project Beginning Balances screen to initialize project beginning balances.)

Before initializing beginning balances, you must first set up your accounts and organizations on the Manage Accounts screen and Manage Organization Elements screen, respectively, and link organizations to accounts.

If you are initializing Costpoint at the beginning of the fiscal year, enter balances only for non-project balance sheet accounts. If you are initializing later in your fiscal year, enter only beginning-of-fiscal-year balances in this screen. Do not enter a "beginning" balance amount as a starting balance for your Costpoint activity that is actually a mid-year account balance. If you initialize mid-year, use adjusting journal entries to establish year-to-date activity amounts for non-project balance sheet accounts. (Initialize year-to-date balances for non-project income statement accounts with adjusting journal entries also. That is necessary so that the rate calculation programs can recognize and include the balances in the calculations.)

Note: If you enter prior fiscal year balances through journal entries, the prior fiscal year amounts are also be included in rate calculations, resulting in inaccurate rates.

After you enter beginning balances during initialization for both non-project and project accounts, generate the Trial Balance report or General Ledger Detail report to verify that amounts were entered correctly. Once initialization is completed, restrict access to this screen. Thereafter, use it to make post-year-end adjustments to non-project beginning balances.

Note: You can apply organizational security to this screen. Use organizational security to grant or deny rights for individual users to view or update information for specific organizations. For more information about organizational security and how to apply it, see the related topic on Organizational Security.
Note: The UI profile you are assigned may have caused some fields to be hidden on your screen. For more information, contact your system administrator.