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Importing from VAP/Excel - mid year

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Importing from VAP/Excel - mid year

When importing from VAP / Excel, you should normally wait until you’ve rolled forward a year, then export the balances and import them as opening balances into the new year in FAR.

You can not do this mid-year, as Import from VAP will automatically assign the year start date to the imported balances. If you have started the year;

  • Reverse out any depreciation postings to date as well as any journals eliminating cost and depreciation on disposal.
  • Import the FAR assets and balances at the year start date.
  • In the FAR, add any asset movements corresponding to entries that have already been entered in the nominal ledger
  • Calculate Depreciation to regenerate the depreciation postings.