Accounting Startup Checklist

1.  Determine how your company will be organized for accounting purposes.  Define the divisions (balance sheet entities) and and departments (income statement entities) that you will use in the system.  You must have at least one division and one department record.

2.  Enter your divisions and departments into the division and department tables

3.  Finalize your chart of accounts structure.

4.  Enter your chart of accounts into the account description file.  This can be done by manually entering the accounts using the Account Setup program, or by importing your chart of accounts from a prior system.

5.  Assign autopost numbers to the accounts that will be automatically posted to by the system.  Accounts such as sales, accounts receivable, inventory, and cash accounts will normally have a unique autopost number assigned to them.   This autopost is used in place of your account number when the system needs to id a specific account during transaction processing.

6.  Create account period records for the current calendar or fiscal year.

7.  Verify that your customers and vendors have been created or loaded into the system and that the records are valid.   You cannot create beginning accounts payable or receivable balances until you have vendors and customers to point them to.

8.  Enter Beginning Balances.  The beginning balances for the accounting area normally include

•      General Ledger Beginning Balances

•      Open Accounts Payable invoices

•      Open Accounts Receivable invoices

9.  Verify your beginning balances.  Run valuation and other reports to confirm that your beginning data is complete and that it matches the value from your prior system.

10. Begin Operations

More:

CRM Startup Overview