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.