GL Opening Balances

Product: The Agency Manager, Series 7 and above

This document provides a workflow for entering opening GL balances.

Warning: Only use this utility in the first accounting month on the system or after a ZAP.

For this procedure, everyone must be logged out of TAM.

  1. Click Start, Programs, Applied Systems, System Installation.
  2. Enter your User Code and Password.
  3. Select GL Opening Balances and click the black arrow.
  4. A warning message displays: "This utility should only be run during initial setup. Running this program to modify balances after initial setup will overwrite all GL balances. Do you wish to continue?" If you already entered opening balances, click No. If you have not, click Yes to continue.
  5. A pop-up box displays requesting an agency code. Enter the code of the agency in which opening balances will be entered. Click Next.
  6. Your current chart of accounts displays. There is a column for Debit and another for Credit. Click your first account with a balance and enter the figure under the correct column. Click Accept after each line.

    Note: Opening balances for the Accounts Receivable general ledger account should match the total balances for customers, brokers, lienholders, and finance companies.

  7. Debits and credits must match for you to leave this screen. Click OK once all figures have been accepted.
  8. Exit System Installation.

Last Revised: September 04, 2008 09:03 AM

SWE36111