Opening Balance Setup

Hi,
Kindly help me for following Questions?
1.  How to set Opening Balance for Business Partner and G/L Accounts?
2.  Where to set Offset Account for Both BP and G/L Accounts? ( Business Partner offset account is in Asset side or Liabilities   Side)
Regards,
Balaji

Hello Balaji...
The SAP Data Migration and Opening Balances GL Account and Number and GL Location/Placement should be determined by your accounting person.  I have seen where the accountants want it as the very last GL account at levels 2, 3, and 4 titled SAP Data Mig/Opening Bal.  I have also seen it where it is placed amongst the Expense drawer.  I have seen several different approaches, but it was always determined by the company's accounting personnel and not the IT.
The reason for this is your accountants will know what they need for auditing persons. And they should be the ones who determine this since they will be the ones around next year when possible variances between the old and new system need to be explained.
Regards,
Za;

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