Brandon, MB––October 6, 2021: When switching from one accounting system to another, sustaining sales history and transferring opening balances at date of go-live such as unpaid payables, uncollected receivables, bank and general ledger balances should be the essence of the data being transferred.
Converting from one software to the other calls for a thorough review of current accounting records and housekeeping such as the clean up of bad data like inaccurate inventory counts, duplicate vendor entries, or aging accrual balances. It is important to be cognizant of the fact that accounting records may contain improperly closed periods, inaccurate liability balances, or outstanding balances on old jobs that have been written off or collected.
The chart of accounts influences two important aspects of business accounts: the accuracy of records and the accuracy of business reports. Inaccurate reports would, needless to say, be damaging to a business. Mapping out what needs to be seen in the Profit & Loss, Balance Sheet and Sales Reports gives a good idea of how to the chart of accounts needs to be structured.
Special attention also needs to be paid to customer addresses – where the city and zip / postal code are not stored in a consistent place whereas the new system is methodical and maintains separate fields for these. In a case like this, extracting the data into a spreadsheet, and moving those elements to their own columns would be feasible.
After choosing a cut-off date and record have been tidied up, invoicing and back reconciliations must be closed off for the chosen reporting period. “Always consult with your accountant or advisor whether the business should bring carry forward previous years’ data or enter trial balances instead. Bringing over historical data to the new system should be done by professionals as aligning systems can be challenging if you don’t know the differences between the systems,” QuickBooks Repair Pro’s John Rocha said.
QuickBooks Repair Pro offers a comprehensive conversion service through which Microsoft Great Plains data can be transferred seamlessly and thoroughly to QuickBooks Enterprise, Pro, Premier, Accountant or QuickBooks Online. This includes complete data integration with all lists and transactional history. The service provides a time tested conversion and migration process that will accurately convert data while maintaining the integrity and availability of historical data within a timely and professional manner.
Visit https://quickbooksrepairpro.com/DynamicsGP-to-Quickbooks.aspx for more information.
About QuickBooks Repair Pro
QuickBooksRepairpro.com is a leading QuickBooks File Repair and Data Recovery, QuickBooks Conversion, QuickBooks Mac Repair, and QuickBooks SDK programming services provider in North America, serving thousands of business users all over the world. With over 20 years of experience with Intuit QuickBooks, QuickBooksRepairpro.com assists QuickBooks users and small businesses with a variety of services and work with the US, UK, Canadian, Australian (Reckon Accounts), and New Zealand versions of QuickBooks (PC and Mac platforms).
For more information, visit https://quickbooksrepairpro.com/