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We are about to go live with a customer, however, as of now, the Customer does not have a Trial Balance.
Instead, they only have closing AR balances.
First question,
Can we proceed to go live with a Trial Balance (which we can bring in later).
Second,
If it's possible to proceed with just AR closing balances, how do we migrate these to Acumatica and what would we need from the Client?
Hi Gojok,
You can absolutely go live without a General Ledger Trial Balance and bring in the balances later. In fact, that's usually what I see because it takes a week or two before Accounting can firm up the Trial Balance numbers that need to be brought it. When the numbers are ready, you can bring them in with a Journal Entry.
For the Accounts Receivable balances, I recommend bringing in all of the invoices with open balances into the Invoices and Memos screen using an Import Scenario. You can even use the actual invoice numbers by setting the ARINVOICE numbering sequence to Manual Numbering in the Numbering Sequences screen.
I usually don't bring in the invoice detail, just one line with the amount of the balance due on each invoice. Also, I don't bring in the total of the invoice, just the amount that is currently due (many times that's the same number). We just want to get the balances in so that cash receipts can be applied to the individual invoices.
When you code to the Account field on the Invoices and Memos screen, you can pick a "dummy" Accounts Receivable account. Let's say your regular Accounts Receivable account is 1200. You can create a "dummy" account for the conversion called 1201. The General Ledger Trial Balance can be brought in as a debit to 1201, then, if you pick 1201 in the Account field on the Invoices and Memos screen, it will debit 1200 and credit 1201, effectively creating a net effect of 0 in 1201.
I also recommend creating a gap between the invoice numbers in the old system and the invoice numbers in Acumatica. For example, if the last invoice number in the old system is 1567, then you can start the automatic numbering of invoices in Acumatica at 1600 by setting Last Number to 1599 in the Numbering Sequences screen. Then it's easier to remember what invoices are in the legacy system vs. Acumatica. Just don't forget to uncheck Manual Numbering after you bring the open balances into the Invoices and Memos screen.
Others might have a different approach. This is just how I normally do things.
Hi Tim,
Hope you are well there. Was going through your forums, and found this.
Just wondering if you have tried replacing the AR debtors account with another GL account when you import the outstanding invoices? For example, Dr. Contra Cr Contra .
So it offsets each other. Reason being, the AR debtors and sales GL amount have been provided for in the Trial balance.
Thanks in advance,
Cheers,
Pam
Yes, I would make the FINANCIAL DETAILS -> LINK TO GL -> AR Account field match the DOCUMENT DETAILS -> Account field on the Invoices and Memos (AR301000) screen so there is no General Ledger effect since the General Ledger will be taken care of by the GL History import.
I would use the real Accounts Receivable account though. That way the AR Balance by GL Account (AR632000) report will use the same GL Account as the General Ledger.
Note though that Acumatica 2017 R2 has a new feature that you can activate which will prevent journal entries from getting generated when you bring in outstanding invoices. To turn it on in Accounts Receivable module, go to the Accounts Receivable Preferences (AR101000) screen and select the Activate Migration Mode option:
