Transfer Your Trial Balance into Khaos Control Cloud

WARNING

This information can not be imported and must be manually entered.
This process can have severe long term implications if not carried out correctly.

Prerequisites

Besides some of the system nominals, the following nominals will be required for this process:
  1. CUOB
    1. Description - Customer Opening Balance
    2. System Type - Customer Opening Balance
    3. Account Type - Company
  2. SUOB
    1. Description - Supplier Opening Balance
    2. System Type - Supplier Opening Balance
    3. Account Type - Company
  3. SysOB
    1. Description - System Opening Balance
    2. System Type - Current Asset
    3. Account Type - Company
  4. 621
    1. Description - Expense Account
    2. System Type - Expense Account
    3. Account Type - Company
The blue nominals will need creating if not already done so. 
Where we have listed an expense nominal in green, for your accounts this would be broken down and you would need to create individual expense nominals for tea and coffee, printing, rent, salaries etc.

How to your Transfer Trial Balance into Khaos Control Cloud

Info

In this guide we will be using the following table as an example of the Trial Balance in our existing system that we are going to enter into Khaos Control Cloud from our old system:


Code



Description



Debit



Credit

               

0101



Debtors



233.00



0.00


               

0102



Creditors
 



0.00



414.00


               

0110



Purchase Delivery



20.00



0.00


               

0115



Sales Delivery



0.00



10.00


               

0120



Stock



100.00



0.00


               

0122



Stock – COS



200.00



0.00


               

200



Sterling Account



246.00



0.00


               

300



Sales



0.00



400.00


               

621



Expense Account



25.00



0.00


                 

 


824.00



824.00


Enter Customer Opening Balances

This process will use customer balances totalling £223.00 as stated against Debtors in the grid above however for the purpose of this guide we will only be adding this to a single customer.
  1. Go to [Accounts | Trial Balance].
  2. Click Actions and select Enter Opening Balances.
  3. Select the Company (Customer) whose balance you will be entering.
  4. In the Invoice Code field OB will already be present however if this has been used for this customer you will need to use a unique value.
  5. Enter the Amount. In our example we will enter £223.00.
    1. This will be the customer opening balance.
  6. Enter the date you wish this opening balance to be invoiced.
  7. In the Nominal box, select Customer Opening Balance.
  8. If the amount entered above is a credit, enable the Credit toggle.
  9. Set the tax rate as required and enable the Post Tax toggle if required.
    1. Usually any Tax will have been reported using your previous system so leave this disabled.
  10. Specify the Currency the opening balance is in.
  11. Click Post Transaction.
Having followed the process above our debt for this customer is £223.00. Repeat for each customer.

Enter Supplier Opening Balances

This process will use customer balances totalling £414.00 as stated against Creditors in the grid above however for the purpose of this guide we will only be adding this to a single supplier.
  1. Go to [Accounts | Trial Balance].
  2. Click Actions and select Enter Opening Balances.
  3. Select the Company (Supplier) whose balance you will be entering.
  4. In the Invoice Code field OB will already be present however if this has been used for this customer you will need to use a unique value.
  5. Enter the Amount. In our example we will enter £414.00.
    1. This will be the customer opening balance.
  6. Enter the date you wish this opening balance to be invoiced.
  7. In the Nominal box, select Supplier Opening Balance.
  8. If the amount entered above is a credit, enable the Credit toggle.
  9. Set the tax rate as required and enable the Post Tax toggle if required.
    1. Usually any Tax will have been reported using your previous system so leave this disabled.
  10. Specify the Currency the opening balance is in.
  11. Click Post Transaction.
Having follow the process above our debt for this supplier is £414. Repeat for each supplier.

After refreshing the screen our trial balance will now look like this:

Adjusting Stock In

You will need to adjust the quantity of stock into the system, when doing this you can also specify the stock item value and this will update the stock nominal. The process for doing this can be found here, How to Adjust Stock Levels.


To do this you must have either imported or manually created your stock in the system, and it must also have a value although this can be set as part of your initial stock adjustment. This is very important as this is the value that the system will use when updating the stock nominal. In our example above, this is £100 of stock and our trial balance now looks like this:


System Opening Balance Nominal

We are now going to use the [SysOB] System Opening Balance nominal to journal against the remaining nominals to complete the trial balance.

Enter Purchase Delivery

  1. Open [Accounts | Journal].
  2. Click on the Edit button in the top right. 
  3. Enter the date for the journal. 
  4. Enter a note for the journal. 
  5. Click on the blue +New button to the top right of the grid. 
  6. Add the Purchase Delivery Nominal. 
  7. Click on the blue +New button to the top right of the grid. 
  8. Add the System Opening Balance nominal. 
  9. Enter the Debit amount, in this case £20.00 against the Purchase Delivery nominal. 
  10. Enter £20.00 in the Credit column against the System Opening Balance nominal. 
  11. Click on the Save Journal button in the top right to post the information to the accounts.

Enter Sales Delivery

  1. Open [Accounts | Journal].
  2. Click on the Edit button in the top right. 
  3. Enter the date for the journal. 
  4. Enter a note for the journal. 
  5. Click on the blue +New button to the top right of the grid. 
  6. Add the Sales Delivery Nominal. 
  7. Click on the blue +New button to the top right of the grid. 
  8. Add the System Opening Balance nominal. 
  9. Enter £10.00 in the Debit column against the System Opening Balance nominal.
  10. Enter the Credit amount, in this case £10.00 against the Sales Delivery nominal. 
  11. Click on the Save Journal button in the top right to post the information to the accounts.

Add the Stock Cost of Sale

  1. Open [Accounts | Journal].
  2. Click on the Edit button in the top right. 
  3. Enter the date for the journal. 
  4. Enter a note for the journal. 
  5. Click on the blue +New button to the top right of the grid. 
  6. Add the Stock - COS nominal. 
  7. Click on the blue +New button to the top right of the grid. 
  8. Add the System Opening Balance nominal. 
  9. Enter £200.00 in the Debit column against the Stock - COS nominal.
  10. Enter the Credit amount, in this case £200.00 against the System Opening Balance nominal. 
  11. Click on the Save Journal button in the top right to post the information to the accounts.

Add the Bank Opening Balance

  1. Open [Accounts | Journal].
  2. Click on the Edit button in the top right. 
  3. Enter the date for the journal. 
  4. Enter a note for the journal. 
  5. Click on the blue +New button to the top right of the grid. 
  6. Add the Bank Account nominal. 
  7. Click on the blue +New button to the top right of the grid. 
  8. Add the System Opening Balance nominal. 
  9. Enter £246.00 in the Debit column against the Bank Account nominal.
  10. Enter the Credit amount, in this case £246.00 against the System Opening Balance nominal. 
  11. Click on the Save Journal button in the top right to post the information to the accounts.

Add the Sales Opening Balance

  1. Open [Accounts | Journal].
  2. Click on the Edit button in the top right. 
  3. Enter the date for the journal. 
  4. Enter a note for the journal. 
  5. Click on the blue +New button to the top right of the grid. 
  6. Add the Sales nominal. 
  7. Click on the blue +New button to the top right of the grid. 
  8. Add the System Opening Balance nominal. 
  9. Enter the Credit amount, in this case £400.00 against the Sales nominal. 
  10. Enter £400.00 in the Debit column against the System Opening Balance nominal.
  11. Click on the Save Journal button in the top right to post the information to the accounts.

Enter the Expense Accounts (Phone bills, utilities, rent etc) Opening Balance

  1. Open [Accounts | Journal].
  2. Click on the Edit button in the top right. 
  3. Enter the date for the journal. 
  4. Enter a note for the journal. 
  5. Click on the blue +New button to the top right of the grid. 
  6. Add the Expense nominal.
    1. In our example this is Office Consumables nominal.
  7. Click on the blue +New button to the top right of the grid. 
  8. Add the System Opening Balance nominal. 
  9. Enter £25.00 in the Debit column against the Expense nominal.
    1. In our example this is the Office Consumables nominal.
  10. Enter the Credit amount, in this case £25.00 against the System Opening Balance nominal.
  11. Click on the Save Journal button in the top right to post the information to the accounts.

Check all the old trial balance has been entered

You can check that all has been entered correctly by opening the Trial Balance and green selecting all the nominals from your original trial balance, for example:

The next stage of the process is the clear down all the opening balance accounts that we used for the double entry to zero (Customer, Supplier, System and Stock Adjusted).

Clear Down the Opening Balance Nominals

Clear down the Customer OB nominal

  1. Open [Accounts | Journal].
  2. Click on the Edit button in the top right. 
  3. Enter the date for the journal. 
  4. Enter a note for the journal. 
  5. Click on the blue +New button to the top right of the grid. 
  6. Add the System Opening Balance nominal. 
  7. Click on the blue +New button to the top right of the grid. 
  8. Add the Customer Opening Balance nominal. 
  9. Create a journal that will clear down the Customer Opening Balance nominal, in this example: 
    1. Debit Customer Opening Balance by £233.00 
    2. Credit System Opening Balance by £233.00. 
  10. Click on the Save Journal button in the top right to post the information to the accounts.

Clear down the Supplier OB nominal

  1. Open [Accounts | Journal].
  2. Click on the Edit button in the top right. 
  3. Enter the date for the journal. 
  4. Enter a note for the journal. 
  5. Click on the blue +New button to the top right of the grid. 
  6. Add the System Opening Balance nominal. 
  7. Click on the blue +New button to the top right of the grid. 
  8. Add the Supplier Opening Balance nominal. 
  9. Create a journal that will clear down the Customer Opening Balance nominal, in this example: 
      1. Debit System Opening Balance by £414.00 
      2. Credit Supplier Opening Balance by £414.00. 
  10. Click on the Save Journal button in the top right to post the information to the accounts.

Clear down the Stock Adjusted OB nominal

  1. Open [Accounts | Journal].
  2. Click on the Edit button in the top right. 
  3. Enter the date for the journal. 
  4. Enter a note for the journal. 
  5. Click on the blue +New button to the top right of the grid. 
  6. Add the System Opening Balance nominal. 
  7. Click on the blue +New button to the top right of the grid. 
  8. Add the Stock Adjusted nominal. 
  9. Create a journal that will clear down the Customer Opening Balance nominal, in this example: 
    1. Credit System Opening Balance by £100.00 
    2. Debit Stock Adjusted by £100.00. 
  10. Click on the Save Journal button in the top right to post the information to the accounts.

Checking that the Trial Balance has been entered correctly

Once you have cleared down the accounts, check the Trial Balance to make sure that the opening balances have been entered correctly and the totals match those of your previous accounting system.




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