Importing accounts and opening balances

Importing accounts and opening balances

When you first set up Usystems, you need to populate your chart of accounts (your complete list of GL accounts) and record opening balances from your previous system. The bulk import tool makes this fast and accurate.

Before you start

• You need admin access to the accounting configuration.
• Export your chart of accounts from your previous system as a CSV or Excel file.
• Each row should have: Account Code, Account Name, Account Type (Asset, Liability, Equity, Revenue, Expense), Opening Balance (optional but recommended).
• Optional columns: Currency, Parent Account Code (for sub-accounts), Description.
• All account types must map to Usystems' standard types. Check your workspace's accounting structure first.
• Opening balances must be dated — they are typically recorded as of your migration date (e.g., 2026-07-01).

Steps

1. Go to Settings → Accounts or Chart of Accounts. Open in Usystems

2. Look for the Import Accounts or Import Chart option.

3. Click Upload file and select your prepared spreadsheet.

4. The system shows a preview with field mapping:

   • Account Code and Name are required; the system will highlight missing data in red.
   • Verify that Account Types are recognized (the system lists standard types: Asset, Liability, Equity, Revenue, Expense).
   • Check that Opening Balance values are numeric and use your workspace currency.

5. Review the mapping. If a column is not recognized, select its type manually from the dropdown.

6. Click Confirm import. The system:

   • Creates each account with its code, name, and type.
   • Creates a single Opening Balance Journal Entry (dated at your migration date) to record all opening balances at once.
   • Duplicate account codes are skipped with a warning.

7. When complete, review the Chart of Accounts page and the Opening Balances Journal Entry (visible in Transactions or Journal).

Accounting impact

Opening balances are recorded as a single journal entry dated at your migration cutoff (e.g., 2026-07-01):

• Debit accounts (assets, expenses, cost of goods sold) are entered as positive numbers.
• Credit accounts (liabilities, equity, revenue) are entered as positive numbers (the system interprets direction by account type).
• The entry must balance — total debits equal total credits. If they don't, the import will fail and list the imbalance.
• Once recorded, opening balances affect all subsequent trial balances and financial reports.

Tips & common mistakes

• Use consistent account codes — do not change codes after import. Codes are how the system links transactions to accounts, and changing them breaks historical records.
• Double-check opening balance signs. Negative balances should be recorded with a minus sign (e.g., -5000 for a liability). The system interprets the sign based on account type, so test with a small import first.
• Do not import duplicate codes. Each code must be unique in your chart.
• For hierarchical accounts (e.g., Bank > Bank 1, Bank 2), use the Parent Account Code column to link sub-accounts. The system will nest them automatically.
• After import, reconcile your trial balance against your previous system's closing balances. If balances don't match, check for rounding or currency conversion errors in your source file.

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