Best Practices for Deploying Microsoft Dynamics AX Opening Balances

When a company migrates to Microsoft Dynamics AX from a legacy ERP solution, one of the important data migration tasks is the creating opening balances in the new Dynamics AX system based on the closing balances of the previous closed period (often the fiscal year) from the legacy system. 

In order to ensure accuracy in your Dynamics AX opening balances, it is important to take a systematic approach to the process of planning, designing, and executing the migration of data for trial balances and sub-ledgers, as well as validation and reconciliation of these elements along with general ledger, sub ledger, and financial dimensions.  In this article I will lay out the process and the elements involved in creating new opening balances in MS Dynamics AX coming from a legacy system.

The opening balances elements are:

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About Mohamed Aamer
Mohamed has been working since 2004 as a Business Applications Consultant. His main focus is customizing business applications to fit customer needs. He spends time understanding the customer business cycles, and solves the customer business pains through a combination of business process re-engineering and application customization. When not working on complex business processes, Mohamed blogs on Microsoft Dynamics AX, plays soccer and attends live Sufi shows.

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Ax opening balances

There are a lot more things to consider e.g account aging, line level reconciliation of open invoices, how to deal with part depreciaated assets when data is loaded mid year, if at year end then how to load later auditor adjustments, how to get opening inventory costs, at what stage to cost roll BOMs , what exchange rate to use on open transactions etc.

Be aware also of bugs in Ax 2012 year end closing that affect the TB listing. Ax 2012 also offers more challenges with data load e.g. to Gl with the new accounting framework and with regard to back up strategy between data laods.

This article rightly draws attention to this important topic- every implementation we have audited has had incorrectly loaded opening balances. Tip: test with a reduced data set in advance.

AX2012 Trial Balance issues

My customer has just gone live on AX2012. I am running into issues with the Trial balance report. If I roll my 2011 year end balances more than once, my 2012 beg balances are being multiplied in the Summary tables making my TB inquiry & report incorrect. Has anyone else ran into this issue? I can fix the balances by running a rebuild, but wondering if there is a setup or other issue here. Magic1949-can you expand upon the issues you have found with the trial balance.

Thanks!

Nice article.

Good one Mohamed. Thanks for sharing :-)

1099 Balances

What about loading 1099 balances? Any comments on that?

minivan