Enter the Opening Transaction

The Opening Transaction records where every employee’s PF stood on the day you start using PF in TrueFin. You enter it once.

Enter this first

Every PF transaction, and every Payroll voucher with PF amounts, must be dated after the Opening Date. Post the Opening before any Profit Allocation or Settlement. Once a Profit Allocation or Settlement exists, even as a draft, the Opening can no longer be changed.

Steps

1. Open the Opening screen

   On the PF Transaction page, click Opening Transaction.

2. Preview the opening date

   Choose the Opening Date and click Preview Opening.

3. Check the Correct Totals

   Every employee gets one Correct Total per column, already filled in with what TrueFin knows from published Payroll. Change any figure that is not the true total on the Opening Date. TrueFin works out and stores the difference for you.

4. Add earlier loans

   Enter any loans taken before this date in Loan Given and Loan Repayment.

5. Save or post

   Click Save to keep a draft, or Save & Post when it is final.

Example

Ali's opening balancesOpening Date 31-Dec-2024

The grid shows Ali’s Employee Contribution as 80,000, from TrueFin’s Payroll history. His records show 95,000, and he also has an earlier loan.

Column	Shown	You type
Employee Contribution	80,000.00	95,000.00
Loan Given	0.00	40,000.00
Loan Repayment	0.00	10,000.00

From the Opening Date on, Ali’s PF includes the full 95,000 and an outstanding loan of 30,000.

Fill the grid from Excel

For many employees it is quicker to work in Excel.

1. Download

   After the preview, click Download. The file lists each employee’s Employee ID, Employee Code and Employee Name, and one column per Correct Total.

2. Edit the amounts

   Change the amounts in Excel. Keep the Employee ID column; rows are matched by it alone.

3. Import

   Click Import and choose the file. The grid is filled in, but nothing is saved yet: review it and click Save.

• Import is all or nothing. If any row has a missing, repeated or unknown Employee ID, or an amount that is not a number, nothing is imported and the first 10 problems are listed.
• A blank cell, or an employee left out of the file, keeps the value already in the grid.

Change or remove the Opening

Use the Opening row at the bottom of the PF Transaction page.

• A draft Opening can be edited or deleted.
• A posted Opening must be unposted first. Then edit it and post it again, or delete it.
• While any Profit Allocation or Settlement exists, even as a draft, the Opening cannot be changed, unposted or deleted.
• Its Opening Date must stay before every PF transaction.
• There is only one Opening Transaction. Starting a second one shows a reminder to change the existing one instead.

Good to know

• Correct Totals can be negative. You can type commas, for example 1,234,567.89.
• Reset clears the preview so you can choose a different date.
• The Employee column stays in place while you scroll sideways, and the totals row stays at the bottom.