How do I clear balances if I have incorrectly imported a trial balance?
When you are importing a trial balance into CaseWare Working Papers (especially when required to import multiple periods at a time), it may be required to clear the balances for a specific period if something has gone wrong with the import.
Using the Clear Balances of Period(s) Being Import feature in the Advance Specifications screen, allows you to clear out the balances for the period(s) you are re-importing.
For example, lets assume that for the 2nd half of the prior year was imported as a Periodic Movement. Whereas the correct classification of the data was Year-to-date. Consequently, the data for the 2nd half of the prior year is adding to the 1st half of the prior year (see why are my 2nd Half imports not calculating my year-end balances correctly? for more information).
To fix this issue you need to do the following:
- Open the Import Wizard and run through the normal selections required.
- In the File Details screen, select the Account Number, Account Description and only the financial column you wish to clear and re-import.
In this example, it is the 2nd Half of the Prior Year. - When you get to the Advance Specifications screen, you need to:
a) Check Clear Balances of Period(s) Being Imported.
This will clear the 2nd Half Prior Year balances before the import.
b) In the Balance Settings area, select Prior Year 1 Balance as the Balance Type.
c) Check the Balances being imported are year-to-date. - Press Finish to proceed.
The end result should correct the data. In this example, we now have the year-to-date balances correctly displayed in the appropriate area of the trial balance.
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