When you start using Netvisor in a company, import the comparative data of the previous financial period into the system so that the figures are raised as opening balances for the starting financial period. You can do this as follows:
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Open the view by selecting Financial management > Financial statements > Financial period management > New financial period.
Establish the previous financial period with the dates of the previous financial period. -
Enter the balance sheet and profit and loss statement of the previous period in a memo voucher (Other) on the last day of the period as single-sided entries.
- Record all balance sheet items in a memo voucher (Other).
- Record all profit and loss statement items in a memo voucher (Other).
- Do not record the financial period’s profit or loss.
- Note that the balance sheet alone is not sufficient; you must also import the profit and loss statement, because the software calculates the financial period’s result from the income accounts when the financial period is closed.
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Check from the bookkeeping reports that the balance sheet and profit and loss statement match the official financial statements.
- Compare the figures in the reports with the balance sheet in the official financial statements.
- Compare the figures in the reports with the profit and loss statement in the official financial statements.
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Close the financial period so that the system records the financial period’s profit or loss in the balance sheet.
Select Financial statements > Financial period management > Close financial period.
Help for financial period management can be found here: Financial period management
Note!
Take the following accounts into account when importing comparative data from the previous financial period:
- Do not directly record anything to accounts 1763 and 2939, as they are system VAT accounts.
- Close accounts 1763 and 2939 to tax account 2948.
- If you are importing older periods from before the tax account, use accounts 1762, 1764 and 2946 instead of 1763 and 2939.
- Do not record anything yourself to accounts 2371 and 2375, as they are the system’s own financial statement accounts.
- Do not record the financial period’s profit or loss yourself; let the system make the entry when you close the financial period.
Opening balances and comparative data can also be imported using
CSV files or
smart Excel forms.
Frequently asked questions
- How do I import comparative data from the previous financial period into Netvisor?
Import the comparative data by establishing the previous financial period, recording the balance sheet and profit and loss statement in a memo voucher on the last day of the period, checking the reports and closing the financial period, at which point the system records the profit or loss in the balance sheet. - Why do I need to import both the balance sheet and the profit and loss statement?
The balance sheet alone is not sufficient, because the software calculates the financial period’s result from the income accounts in the profit and loss statement when the financial period is closed. - Am I allowed to record the financial period’s profit or loss myself?
You are not. The system records the financial period’s profit or loss automatically in the balance sheet when you close the financial period. - Am I allowed to record to accounts 1763, 2939, 2371 and 2375?
You must not record anything yourself to these accounts, as they are system VAT accounts and financial statement accounts. Close accounts 1763 and 2939 to tax account 2948, or for older periods use accounts 1762, 1764 and 2946. - Can I import opening balances and comparative data from a file?
You can import opening balances and comparative data using CSV files or smart Excel forms.
Keywords: Netvisor, previous financial period, comparative data, opening balances, balance sheet, profit and loss statement, memo voucher, financial period management, closing the financial period, VAT accounts, tax account, CSV files, smart Excel forms
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