"Fiscal year '%1', general ledger account '%2': General ledger account for the opening balance has not been entered." Why do you receive this notification and what can you do to resolve it?

"Fiscal year '%1', general ledger account '%2': General ledger account '%3', in fiscal year '%4' on which the balance should be recorded as the opening balance, is not a balance sheet account." Why do you get this notification and what can you do to resolve it?

The standard report 'Trial Balance Sheet' displays a trial balance for a selected period. It shows the opening balance, totals of debit and credit entries, the balance, and the closing balance for each general ledger account. The data is grouped by categories and optionally by sub-levels. Totals are calculated per group, and there are options to suppress accounts or groups without transactions. The report supports financial control and preparation for further reporting.

MKG has manual and process-oriented journals. Entries from the sales, production, or purchasing process are made in the process journals. This article covers general matters about journals and some specific features of process-oriented journals.

The standard 'Periodic Balance Sheet' dashboard provides insight into the financial position over a selected period. You use it to analyze balance and income statement accounts, compare period figures, and check totals, opening, and closing balances.

After creating the new fiscal year, it is still possible to make bookings in the old fiscal year. Consequently, the closing balance of a fiscal year may no longer match the opening balance of the new fiscal year. In this article, you will learn how to align the balances again.