 |
Chart of Account Conversion - Infinium® Case
Study
Distributor of Fresh Produce in North America
General Ledger, Accounts Receivable, Accounts Payable, Payroll
Project
|
Challenges:
- Client
has out grown their chart
of accounts through expansion, restructure, or attrition.
Organizations that need to standardize between companies or business
units or have reporting needs not easily attainable with their
current account numbers.
- Development of a chart of
accounts that met the needs of all companies while maintaining logic
for comparison and consolidated reporting
- A method to accommodate
timing differences between the chart of accounts change and the
subsystems such as Payables, Payroll, and Fixed Assets.
- A plan to train and
transition entire organization to the new account structure.
|
|
Solution:
-
Synthasys has developed a
methodology that incorporates existing Infinium functionality with
minimal technical effort. The process provides the ability to use
either the new or old accounts until the company has fully
transitioned.
-
This method leaves a documented
audit trail between the systems.
-
The process ensures validation so
reports from old structure and new structure give the same
historical values on balance sheets and profit and loss statements.
|
|
Results:
-
The client was able to successful transition all companies to the
new standard chart of accounts.
-
This methodology is being used for all their acquisitions of new
companies.
-
The client was able to get realigned in a short time frame and
develop expanded reports to help the organization make good business
decisions.
|
|
