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This topic explains the process to follow when posting management accounts from trial balances.
The trial balances used must be for the period only - not year to date figures.
Select Edit | Management Accounting Basis and select the basis you require for this client.
Start a new posting file entry specifying that you want to use Management Accounting.
Select the first period end date and start a batch of document type 11 JNL Journals. Enter the trial balance, omitting the closing stock balances.
Select Management and make the postings for closing stock.
For closing stock use 'batch with no given type' if the standard stock accounts are to be used. This includes accounts 73 - 82 and 568 - 590.
If codes other than these are to be used, click here for information.
Select the post file entry specifying that you want to use Management Accounting.
Select the appropriate period end. Start a batch of document type 1 'OBL Opening Balances' and run reverse opening balances from the previous period.
Start a batch of general journals and post the trial balance omitting the balances for closing stock.
Select Management and make the postings for closing stock.
For closing stock use 'batch with no given type' if the standard stock accounts are to be used. This includes accounts 73 - 82 and 568 - 590.
If codes other than these are to be used, click here for information.
Select the post file entry specifying that you want to use Management Accounting.
Select the appropriate period end. Start a batch of document type 1 and run reverse opening balances from the previous period.
Start a batch of general journals and post the complete trial balance.
Make postings re prepayments, accruals and closing stock in the same place as the trial balance postings. Do NOT select Management.
Generate the reports.
For closing stock use 'batch with no given type' if the standard stock accounts are to be used. This includes accounts 73 - 82 and 568 - 590.
If codes other than these are to be used, click here for information.