Opening Balance

One of the first steps in configuring the model is to select Model Financial Year Start Date & Base Trial Balance Date. For detailed instructions on how to configure the model please, Review Section 1.4 Model Setup and Configuration.

In our example, forecast period starts on April 1st, 2017. Therefore, we need to import account balances as of March 31st, 2017 into the model.

Base Trial Balance period for our model is March 2017. We need to enter account balances of that period in Enter TB Section from Opening Trial Balance group on the ribbon.

At configuration stage we added rows to each account category. All of those items are listed in this section in Column B. In Column G users can enter base period trial balance figures. This can be done either manually or by using the Mapping column. Mapping column allows the user to match each account with a unique identifier (possibly, account code internally used by the company). Then any lookup function can be used to import corresponding values of each identifier into column G.

After importing the trial balance figures for the base period, it is possible to review the overall results at the top of TB Input Section: