What is opening entry in SAP FI-GL - General Ledger Accounting?

SAP Term: opening entry

• Component: FI-GL

• Component Name: General Ledger Accounting

• Description: Accrual Engine An opening entry is used to initially post the entire amount to be accrued as a balance posting.

Smart SAP Assistant

• Key Concepts: 
  An opening entry is a journal entry used to transfer the balance of a ledger account from the previous fiscal year to the current fiscal year. This entry is used to ensure that the balance of the ledger account is correct at the start of the new fiscal year. 
  
  How to use it: 
  In SAP, an opening entry is created in the General Ledger Accounting (FI-GL) component. To create an opening entry, go to the General Ledger Accounting menu and select “Create Opening Entry”. Enter the necessary information such as the account number, debit and credit amounts, and any other relevant information. Once all of the information has been entered, click “Save” to create the opening entry. 
  
  Tips & Tricks: 
  When creating an opening entry in SAP, it is important to ensure that all of the information is accurate and up-to-date. Additionally, it is important to double-check that all of the accounts involved in the opening entry are correct before saving it. 
  
  Related Information: 
  For more information on creating an opening entry in SAP, please refer to SAP Help documentation or contact your local SAP support team.