Temporary Accounts

Temporary Accounts is a small group at the bottom of the Assets branch whose only child is Temporary Opening. It exists to keep the one-off opening balance mechanism out of the real asset groups so that nothing from the migration day leaks into Current or Non-Current Assets. Once every opening balance has been loaded and the Temporary Opening ledger has been cleared to Retained Earnings or the proper equity account, the group totals zero and stays that way; a Balance Sheet that still shows a figure here tells the auditor the migration was never finished. The group takes no postings; the single child does, and only during the opening exercise.

Temporary Accounts = Temporary Opening balance; target is zero after opening balances are complete.

1. 01Go to Accounts Setup > Chart of Accounts and expand Assets > Temporary Accounts.
2. 02Read the single child, Temporary Opening, with account type Temporary.
3. 03Open Financial Reports > Trial Balance for the go-live date; the group should net to zero once loading is done.
4. 04If a balance remains, open the Temporary Opening ledger to find the opening entry missing its other side.
5. 05Never post to the group; use the child only during the opening balance exercise.

Do not post here. Opening balance entries use Temporary Opening beneath it.

Temporary Accounts should total zero once all opening balances for Shrawan 1, 2083 are entered.