How to configure a balance change

Most companies encounter this situation: accounts that have a debit value one month and a credit value the next. Many controllers solve this by cutting and pasting the relevant accounts. This may work once, but it changes both your historical data and future reporting.

Within Lucanet, you can easily configure a balance transfer.

How? Watch the video below to find out!

There are several tips for configuring the balance transfer in Lucanet:

1. You can configure a balance transfer on both an account and a position. If you configure it at the position level, multiple accounts can be balanced at once. In addition, the balance transfer can be consolidated and recalculated.
2. If you perform a balance transfer at the position level, make sure that all accounts you want to balance are on one side of the balance sheet. This provides a better overview and makes it easier to verify how the balance transfer is working.

Is the balance transfer doing something, but not what you expect? Contact us today!