Cutting over from an old accounting system
- Julie Hanlon
Overview
There needs to be a clean cut-over for accounting purposes from your old accounting system to your new Jiwa application. (Note, the following is not necessary when upgrading from an old version of Jiwa, only for migrating from a different application).
You can’t pay outstanding creditors or receipt open debtors in the old system as the bank then won’t reconcile.
This is the journal that needs to be created as at end of previous month, with example dollars. It can also be separated out into 4 journals.
Dr | Debtors Control | 150 | |
Cr | Creditors Control | 50 | |
Dr | Inventory | 120 | |
Dr | Bank | 25 | |
Cr | Suspense Jiwa | 245 |
All opening transactions must come in by csv import. Sample docs for the format required for these csv files are available here C:\Program Files (x86)\Jiwa Financials\Jiwa 7\Documentation and Samples\Importing
Stock on Hand
This is necessary for day 1. For each part number it must include the number of units, the cost per unit, the warehouse and bin location. Total cost of units equals $120 in the example.
Outstanding debtor transactions
Invoices delivered but not paid, adding up to $150 in the example. Can be done after day 1.
Outstanding creditor transactions
Invoices not paid, adding up to $50 in the example. Can be done after day 1.
Bank balance
Done by a manual bank reconciliation. $25 as per the example.
After each step or data import run the General Ledger “Trial Balance” to check that it balances.
Stock on Hand
1. Run “Inventory Reconciliation” report and check the variance is $0. If not, fix this first.
2. Export data from your old system to CSV or spreadsheet
3. Map the columns to the import fields in Jiwa and save as a CSV file.
4. In Jiwa, go to Inventory / Utilities / Inventory Transaction Import
Click Browse to open the csv file
Check the mappings
Click the Import button
Check for any errors.
5. Open the Inventory Maintenance form for each part number and go to the S.O.H. tab | Transaction Detail sub-tab. Check a sample of quantities have been imported.
6. Run the “Stock On Hand” report ‘Detailed’ style and check the transactions.
7. Calculate the total inventory balance you have input from the csv file.
8. Post the following journal:
Dr | Inventory | 120 | |
Cr | Suspense | 120 |
9. Run the “Inventory Reconciliation” report again and check the variance is $0
Outstanding Debtors Transactions
1. Run “Debtors Reconciliation” report and check the variance is $0. If not, fix this first.
2. Export data from your old system to CSV or spreadsheet
3. Map the columns to the import fields in Jiwa and save as a CSV file.
4. In Jiwa, go to Customers / Utilities / Debtor Transaction Import
Click Browse to open the csv file
Check the mappings
Click the Import button
Check for any errors.
5. Open the Customers Maintenance form and go to the Transactions tab. Check a sample of invoices have been imported.
6. Run the “Debtors Aged Balance – Detailed” report and check the transactions.
7. Calculate the total debtors balance you have input from the csv file.
8. Post the following journal:
Dr | Debtors Control | 150 | |
Cr | Suspense | 150 |
9. Run the “Debtors Reconciliation” report again and check the variance is $0
Outstanding Creditors Transactions
1. Run “Creditors Reconciliation” report and check the variance is $0. If not, fix this first.
2. Export data from your old system to CSV or spreadsheet.
3. Map the columns to the import fields in Jiwa and save as a CSV file.
4. Save the file as a csv file and close.
5. In Jiwa go to Creditors / Utilities / Creditors Transaction Import
Click Browse to open the csv file
Check the mappings
Click the Import button
Check for any errors.
6. Open the Creditors Maintenance form and go to the Transactions tab. Check a sample of invoices have been imported.
7. Run the “Creditor Aged Balance As At – Detailed” report and check the transactions.
8. Calculate the total creditors balance you have input from the csv file.
9. Post the following journal:
Dr | Suspense | 50 | |
Cr | Creditors Control | 50 |
10. Run the “Creditors Reconciliation” report again and check the variance is $0.
Bank Balance
1.Run a bank reconciliation in old system to highlight unpresented cheques and outstanding deposits. For example:
Balance as per bank statement $30
Less unpresented cheques $6
Add outstanding deposits $1
Bank Balance equals $25
2. Post the following opening journal as at end of previous month:
Dr | Bank | 25 | |
Cr | Suspense | 25 |
3. Create a Bank Reconciliation in Jiwa.
Enter the bank balance as $25
Add each unpresented cheque and outstanding deposit. Select Type = Opening Balance Transaction from the drop-down list
Activate the Bank Reconciliation.
4. Run the “Bank Reconciliation” report and check it reconciles.
Trial Balance
The remaining ledger balances in your trial balance should equal the total in the suspense account. Manually enter an opening journal for all remaining ledger accounts, crediting Suspense to balance.