Go to the Tools menu, Getting Started, Trial balance.
To import balances for your GL accounts, use the csv template file by clicking on Download CSV template.
The template contains all the GL accounts from your current system. If an account has a debit balance, the amount in the current_balance column should be positive. If an account has a credit balance, the amounts should be negative. The sum of the all your balance for all your accounts(column current_balance) should be zero.
Because sum of all debit amounts and sum of all credit amounts must be the same in a double sided accounting system. If there is a difference between the sum of the all debit and credit accounts, the difference is put into a system account called suspense clearing. If there is a balance in your suspense clearing account, this means you have not imported all trial balances for all GL accounts.
The required columns are below.
account_number: The account number of the account.
current_balance: The current balance of the account in the current company's home currency. If the account has a credit balance, then put in negative number. if the account has a debit balance , put in positive amount
foreign_nominal_balance: Use this to indicate account balance that are in foreign currency. Positive numbers are DEBITS; Negative numbers are CREDITS. Numbers must not be formatted with dollar signs or commas. Keep it blank if the account is not in foreign currency.
*period_end_date: The date that the balance is for. In format yyyy-mm-dd. Older version support this column. No longer used and for backward compatibility only.
In new version of Versa, you will also see columns like these to specify the trial balance date.
YYYY, DD, MM. These 3 columns replaces the period_end_date column and you need to break out the year and month and day of the period_end_date
yyyy: The year that the balance is valid for. 2019 for example.
mm: The year that the balance is valid for. 12 for example.
dd: The year that the balance is valid for. 30 for example.
imported_earlier: This flag is to tell the import if the balance should be imported or not. If the value is set to TRUE, the system will essentially ignore the row. You would set this column to true if you have already imported the balance for this account in another area. Common accounts that require this column be set to TRUE would be accounts receivable, accounts payable, inventory asset accounts and other default accounts. If you run the import for open accounts payable, then the balance for accounts payable would have been already in the system. Same for accounts receivable if you run the import for open accounts receivable. If you imported inventory quantity and values, then the balance for inventory account are already in the system.