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: