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Opening balance woes

edited Feb 29, 2008 11:35PM in Accounting / ERP 2 comments

We are prepping up to go live with Netsuite this weekend and have hit a major show stopper (at least that is our current perspective). Apparently there is no viable way to enter an opening balance or one sided journal to create the starting position of the companys financials.

How exactly do you set up the financial position of the company with double sided entries? From my understanding you can't unless you back post all transaction from the start up of the company.

In essence, our current financial systems balance should fit the starting position of Netsuite for auditability. Double sided entries and other work arounds do not accommodate this

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