to select, the fiscal year for which you want to enter beginning balances. You can also use Query to select the correct fiscal year or to select and view balances entered previously.During system setup, use the Reference Beginning Balances screen to initialize the beginning balances in the general ledger for reference numbers to be used in data entry. (Reference numbers used as alternate reporting structures are for reporting purposes only and do not contain balances.) Before initializing beginning balances, you must first set up your accounts and reference numbers on the Manage Accounts screen and Manage Reference Elements screen, respectively.
If you are initializing Costpoint at the beginning of the fiscal year, enter balances only for reference number balance sheet accounts. If you are initializing later in your fiscal year, do not use this screen. In that case, use adjusting journal entries to establish year-to-date activity amounts for reference number balance sheet accounts. (Initialize year-to-date balances for reference number 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.)
Use this screen only when initializing Costpoint. Once initialization is completed, restrict access to this screen.
Enter, or click to select, the fiscal year for which you want to enter beginning balances. You can also use Query to select the correct fiscal year or to select and view balances entered previously.
Enter, or click to select, the reference number for which you want to enter beginning balances.
In each session, Costpoint maintains a running balance of all account balances you enter in the session. It is recommended that you calculate the net amount and hours for the balances you plan to enter during the session. When you finish, check those totals against Costpoint's running balances to make sure that no data entry errors occurred. (When you close the screen, Costpoint discards the running balances).
To begin adding balances, click 
.
Enter, or click to select, the account for which you want to enter beginning balances.
This non-editable field displays the name of the account.
Enter the beginning balance, in your company's functional currency, for the selected account. Regardless of the type of account, enter the balance as a positive amount if it is a debit balance. If it is a credit balance, enter a negative amount by preceding the amount with a minus sign (hyphen).
Enter the beginning balance in hours (if applicable) for the selected account.