Upload Legacy Data – A summary of the activity

Legacy data is required to compare the financial statements of the current years with that of the earlier years. It is also a statutory requirement that the legacy data of the company is maintained for a certain period of time.

This page allows you to upload the closing balances for the earlier years from an external source in which the data is available. This external source could be an MS-Excel worksheet or a database also. This activity is used when the installation is first made based on the business requirements of the organization. You must have defined the legacy financial years / periods, the finance books and the account codes before the balances are uploaded to the system. The legacy account codes must also be the same in the current chart of accounts.

This page allows you to search and select a finance book and the financial year / period for which you want to upload the legacy balances. You can also view the legacy details after it has been uploaded. Along with this the error details can also be viewed.

Getting familiar with the pages inside

What you can do in this activity

Upload closing balance data

Upload closing balance data

To compare the current financial statements with the previous years the closing balances of the earlier years are maintained. The number of years for which the history is required is decided and set while defining the years. The closing balances of the earlier years can be uploaded from an external source. This external source could be an MS-Excel worksheet or it could also be an external database. The < > tool helps you in uploading the details.

• Go to “Upload Legacy Data” page.

• Select the finance book, financial years and upload the details.