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Article ID:                  4283

Subject:                    Beginning Balance “As Of” Date

Last Modified:         March 08, 2013

Applies to:                ProGold i2 3.xx

Purpose:   Provide instructions for entering and verifying the beginning balance As Of date.  A balance sheet is a financial "Snapshot" of your business at a given date in time.  As such, it is a cumulative report.  It requires an appropriate From Date whenever you run the report.  The Financial Periods closeout process in Pro Gold i2 archives the detailed general ledger data.  The system has a setting called the As Of date which displays the date to use as your From Date for the balance sheet report.  The As Of date is defined as the day after the last date in the last full year that was closed.  It is displayed in the Beginning Balances button under the Chart of Accounts. 

Procedure:  Actions required to verify and update (enter) the As Of date:

•         Step 1:  Locate the beginning balance As Of date field in the Beginning Balances button under the Chart of Accounts:

-     Main menu =>  Accounting => Chart of Accounts icon => Beginning Balances button

-     The As Of date field is displayed in the center at the top of the Beginning Balances screen

•         Step 2:  Verify the As Of date:

-     If there is no date or you want to verify the date that in the field is accurate, do the following:

•   Main Menu => Accounting => Financial Periods icon

•   Select the Financial Periods icon

•   Use the arrows in upper right of the screen to scroll back through the years and to find the last full year that was closed (all 12 months)

•   Identify the last date of the last month of the last fully closed year (e.g., 12/31/2008)

•   Note:  Partially closed years do not qualify

•   The As Of date should be one day after the last day (e.g., 01/01/2013)

•   You want to use a date that is one day after the last date in the closed year

•   If the last year closed was 12/31/2008, then the beginning balance date to use would 01/01/2013

•         Step 3:  Update the As Of date:

-     Go to the As Of date field

-     Enter the full date

-     Select Yes to the warning prompt to update the date

-     Click the Done button to close the beginning balances screen

Additional Information:   Below is a link you can use to access Enhancement HelpNet Center resources, which includes the Knowledge Base Article (KBA) Library, Pro Gold i2 Documentation, and Training Webcasts:

   http://secured.progoldi2.com/webcast.aspx

The Enhancement HelpNet links are located on the right side of the web page.

Related articles:  4165

Keywords:  4283, As Of, Balance Sheet, Beginning Balance