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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.

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