Importing/Entering GL Opening Balances

Prior to going live on Accolent ERP, you need to ensure that the Accolent ERP General Ledger balances and accounts are correctly initialized. This requires that you obtain the closing trial balances from your previous system and import these into Accolent ERP. There are several other settings that need to be properly entered.

Closing Trial Balance

On your old ERP system, prior to going live on Accolent ERP, you should endeavor to:

• Invoice all possible Sales Orders; and
• Receive all possible Purchase Orders.

Accolent ERP Preparation

On Accolent ERP you should have already:

• Entered or imported all Value Lists;
• Imported all Customers, Vendors, and Locations;
• Imported all Product Groups, Product Categories, and Product Sub-Categories;
• Imported all Products;
• Imported all Inventory, Costs, and Product Locations;
• Imported all open Purchase Orders, Quotes, and Orders;
• Entered or imported the Chart of Accounts; and
• Verified all items on the Pre-Live Checklist.

Accolent ERP Pre-Live Checklist

Here is a link to the Accolent Pre-Live Checklist.

Please go through this and satisfy yourself that you have addressed all the areas identified in the checklist. Please feel free to contact us if you have any questions about any of these areas.

Pre-Live Discussion

Once you believe you are ready to go live, please schedule a call with ADS Solutions customer support to review the setup of your GL Chart of Accounts and go over the sequence of steps you will need to follow to cut over your accounting to Accolent ERP.

Going-Live Cut Over to Accolent ERP

There is a clear process you must follow to get your accounting properly set up on Accolent ERP. The following steps must be completed when you are ready to cut over to Accolent ERP:

1. We will clear out all of your test transaction data when we copy your pre-live database to a production database.
2. Enter or import your open AR and open AP and tie them to the starting balances, and confirm your inventory valuation ties to your opening balance.
3. Enter a General Ledger Adjustment to create your opening Balance Sheet.
4. Enter your Accounting Start Date under the System Configurations.

Each of these steps is described in some detail below.

Clearing out Transaction Data

• Typically when we copy your pre-live database to a production database we will automatically clear all test data. We will also at this time do an Incremental Import to bring your data up to date. If this approach doesn’t’ work for you please let us know.
• Typically, we will delete and re-import the following as part of the Incremental Import – but you need to advise us if this is not what you want.
  • Inventory quantities and costs.
  • Open Accounts Receivable.
  • Open Accounts Payable.
• We will typically not clear out any master records data.
  • We will import any changes to master data as part of the Incremental Import.

Importing or Entering Beginning Balances

• Advise us on what starting points you wish to use for system-generated numbers for:
  • Sales Orders.
  • Purchase Orders.
  • Check Numbers.
• When we import your beginning inventory quantities and costs these will not be posted to the General Ledger.
  • The Inventory balance will already be in your Closing Trial Balance.
  • After importing inventory quantities and costs, run the Inventory Valuation Report to tie out the inventory balance to your Balance Sheet inventory balance.
• When we import your open Accounts Receivable these will not be posted to the General Ledger.
  • The Open AR balance will already be in your Closing Trial Balance.
  • This total should match your beginning Accounts Receivable GL entry.
• When we import your open Accounts Payable these will not be posted to the General Ledger.
  • The Open AP balance will already be in your Closing Trial Balance.
  • This total should match your beginning Accounts Payable GL entry.
• Imported open Purchase Orders open Quotes and/or Sales Orders do not post to the General Ledger.

Creating an Opening General Ledger Entry

• From Accolent ERP, create a General Ledger Adjustment for your opening Balance Sheet. You can do this manually, or you can import your starting Trial Balance using one of the Bulk Imports.
  • Use the GL > Manage General Ledger > GL Adjustments menu to create the opening Balance Sheet.
  • The Closing Trial Balance from your old system should provide the data to create the opening Balance Sheet GL Adjustment entry.

Entering the Accounting Start Date

• Enter the Accounting Start Date under the System Configurations.
• The Accounting Start Date represents the date of your beginning balances in Accolent ERP.
• Accolent ERP will not post any accounting transactions to the General Ledger for any period prior to the Accounting Start Date.
• All the beginning inventory quantities and costs and beginning Accounts Receivable and Accounts Payable balances should be dated prior to the Accounting Start Date; this will ensure that the value of these beginning balances will not double up in your opening General Ledger Journal Entry.