Completing initial balance entries

This page allows you to close the initial balance entries once all the details have been completed. You to select the depreciation book and finance book for which the initial asset balances have been entered. You can also select the asset class for which the asset details have been entered. The balances of the individual accounts are retrieved as per the “Fixed Assets Management” BPC and the “Book Keeping” BPC. The balances of the account in both the modules must be the same. In case they are not the same, you will not be allowed to complete the initial balance entry.

Select the “Complete Initial Balance” link at the bottom of the “Create Initial Balance” page.

The “Complete Initial Balance Entry” page appears.

Enter the following fields:

Depreciation Book Code	Use the drop-down list box to select the code identifying the depreciation book in which the balance has to be updated. All the depreciation books that have been deployed in the login organization unit will available for selection in the alphabetical order.
Finance Book	Use the drop-down list box to select the code identifying the finance book in which the balance has to be updated. All the finance books that have been deployed in the login organization unit will be available for selection in the alphabetical order.
Asset Class Code	Use the drop-down list box to select the code identifying the asset class to which the assets belong. The system displays all the asset codes that are available in the login organization unit in alphabetical order.

Click the “Get Details” pushbutton to retrieve the details of the balances that have been entered earlier.

The system displays the following:

Number of Asset Entered	The number of assets for which details have been entered.
Number of Tag Entered	The number of asset tags for which details have been entered.

The system displays the following in the “Initial Balance Information” multiline:

Account Code	The code identifying the account to which the asset belongs.
Description	The description of the account code.
Balance as per GL	The balance quantity of the asset available as per the “General Ledger” in Ramco Enterprise Series.
Balance as per FA	The balance quantity of the asset available as per the “Fixed Asset Management” in Ramco Enterprise Series.
Difference in Total	The difference between the balances as per “General Ledger” and the “Fixed Asset Management”.

Click the “Complete Initial Balance” pushbutton to save the initial balance details in the “Asset Inquiry” business component.

The initial balance entry is completed and updated for the combination of the depreciation book and the finance book.

Prerequisite

“Depreciation Categories” and the “Depreciaiton Calendar” must have been defined in the “Depreciation Setup” business component.
“Finance Book” must have been defined in the “Organization Setup” business component.
“Asset Class” must have been defined in the “Asset Type Definition” business component.