We’ve all heard tales of smooth software transitions, where all your valuable data flows seamlessly from the old application to your new solution and tomorrow you’re back to work without a hiccup. The reality is that transitions can be smooth, with minimal disruption to your operations, if they are well planned, skillfully executed, and if your expectations are fairly and reasonably set. Below are some of the complicating factors you and your consultant should discuss prior to data migration from QuickBooks to Intacct accounting.
Determine what to bring
The ability to quickly produce accurate financial reports from Intacct after the transition is most businesses’ first imperative, and to achieve this requires proper planning on your part and the part of your consulting team. Some things to consider are:
- Do you you want to be able to run financial reports in Intacct that are comparative for the prior year, or will you be using your previous financial system for historical reporting?
- How much historical information do you want to bring from your old system into Intacct? Open AR and open AP information, historical for the subledger or posting to the GL?
Based on your answers, you and your consulting team can best determine what and how much data to bring over from QuickBooks. A typical approach would include migrating your previous year’s ending balance sheet or Trial Balance as your opening balances for the year of implementation. Then, based on your decisions above, you would be bringing monthly summary journal entries of transaction detail, or the actual transactions themselves.
Identify where it’s coming from
It goes without saying that in order to generate historical reports in Intacct, you have to first get the data into Intacct. But determining precisely where to find the specific information needed within QuickBooks can be a challenge. This is complicated by the fact that many businesses elect to make changes to their chart of accounts as part of the transition, requiring an extra level of effort as you need to map those changes prior to data migration.
Yet another dimension (or two)
Are you using Classes in QuickBooks to handle what Intacct calls Dimensions or different locations? If so, you’ll need to run separate reports by Class, so that you can isolate those amounts and bring them into Intacct under the correct Dimension.
Other considerations include where to get your open accounts payable and accounts receivable transactions, how to keep your open AR and AP out of your historical journal entries if you choose to post to the general ledger, and how to handle split detail in transactions.
Standing by to help
With proper planning and follow through, getting the information out of QuickBooks and into your Intacct accounting software will require work, but shouldn’t require any hair pulling! It’s helpful to know what complicating factors you can anticipate, so your time and resource planning can address them. We are available to help with any part – or all – of the process, just let us know.
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Author: Nancy McCarthy