The financial take-on process involves the following steps:
- Creating the customer, supplier, and ledger accounts.
- Synchronising the financial take-on process.
- Entering the opening balances.
- Accepting the financial take-on routines.
Create the customer, supplier, and ledger accounts
You start by creating the necessary customer, supplier, and ledger accounts so that when it comes time to enter the opening balances later, the accounts already exist.
Read these guides to see how to do this:
Synchronise the financial take-on process
Before you run to the hills at the sight of the complex-sounding name, this entire process only involves pressing a single button.
This tells Fincon Accounting to run through all of the accounts that you have created, and list them on the Enter Take On Balances screen (more on this later) so that you can enter the opening balances of the accounts.
Steps to synchronise the financial take-on process:
- Make sure that all forms inside Fincon Accounting have been closed.
- Navigate to System / Take On Routines / Synchronize Financial Take On.
- Click the Accept button.
- Wait for the synchronisation process to run.
- Once the process is done, click the Close button.
Together with the Create the customer, supplier, and ledger accounts step, this makes up the majority of the financial take-on process.
Enter the opening balances
As you might have guessed from the heading, this step is all about entering the opening balances for all the relevant accounts. You can enter the opening balances by entering them individually or by importing them from a CSV file.
- Entering the customer opening balances individually
- Importing the customer opening balances
- Entering the supplier opening balances individually
- Importing the supplier opening balances
- Entering the ledger opening balances
- Importing the ledger opening balances
Entering the customer opening balances individually
Navigate to the correct window
- Navigate to the System / Take On Routines / Enter Take On Balances.
- Click on the Debtors tab.
Enter the opening balances
- Enter the balances in the appropriate age columns for the corresponding customer accounts.
Save the opening balances
- Click the Save button.
- Check that the following message box appears: The data has been saved.
- Click the OK button.
Importing the customer opening balances
Download the template
- Download the template at the bottom of the guide.
Create the CSV file
- Fill in the appropriate customer balance information.
- Save a copy of the spreadsheet in spreadsheet format.
- Save a copy of the spreadsheet in CSV format.
- Close the spreadsheet.
Import the opening balances
- Navigate to System / Take on Routines / Enter take On Balances.
- Navigate to the Debtors tab.
- Click the Import button.
- Navigate to, and select the saved CSV file.
- Click the Open button.
- Click the Save button.
- Check that the following message box appears: The data has been saved.
- Click the OK button.
Entering supplier opening balances individually
Navigate to the correct window
- Navigate to the System / Take On Routines /Enter Take On Balances.
- Click on the Creditors tab.
Enter the opening balances
- Enter the balances in the appropriate age columns for the corresponding supplier accounts.
Save the opening balances
- Click the Save button.
- Check that the following message box appears: The data has been saved.
- Click the OK button.
Importing supplier opening balances
Download the template
- Download the template at the bottom of the guide.
Create the CSV file
- Fill in the appropriate supplier balance information.
- Save a copy of the spreadsheet in spreadsheet format.
- Save a copy of the spreadsheet in CSV format.
- Close the spreadsheet.
Import the opening balances
- Navigate to System / Take on Routines / Enter take On Balances.
- Navigate to the Creditors tab.
- Click the Import button.
- Navigate to, and select the saved CSV file.
- Click the Open button.
- Click the Save button.
- Check that the following message box appears: The data has been saved.
- Click the OK button.
Entering the ledger opening balances individually
Navigate to the correct window
- Navigate to the System / Take On Routines / Enter Take On Balances.
- Click on the Ledgers tab.
Enter the opening balances
- Enter the balances in the appropriate age columns for the corresponding ledger accounts.
Save the opening balances
- Click the Save button.
- Check that the following message box appears: The data has been saved.
- Click the OK button.
Importing ledger opening balances
Download the template
- Download the template at the bottom of the guide.
Create the CSV file
- Fill in the appropriate ledger balance information.
- Save a copy of the spreadsheet in spreadsheet format.
- Save a copy of the spreadsheet in CSV format.
- Close the spreadsheet.
Import the opening balances
- Navigate to System / Take on Routines / Enter take On Balances.
- Navigate to the Ledger tab.
- Click the Import button.
- Navigate to, and select the saved CSV file.
- Click the Open button.
- Click the Save button.
- Check that the following message box appears: The data has been saved.
- Click the OK button.
Accept the financial take-on routines
Now that everything else has been done, the one thing remaining is to accept the financial take-on process. This step tells Fincon Accounting that you are done creating accounts, and entering opening balances, and that it may close this process off. When accepting the financial take-on routines, you can choose just to accept the customer accounts, just the supplier accounts, or accept the entire process.
Steps to accept the financial take-on process
- Navigate to System / Take On Routines / Accept Financial Take On.
- Select whether to accept just the customer, just the supplier, or the entire process, in the Take On Mode group.
- Enter I am SURE (case sensitive) in the corresponding text box.
- Click the Accept button.
- Check that a confirmation box has appeared with the message: The company parameters have been updated successfully – you must exit FINCON for the menu changes to take effect.
- Navigate to File / Re-enter as new User.
- Log back into Fincon Accounting.
Download the customer, supplier and ledger opening balances templates here: