Tag Archives: migration

Import Names into MoneyWorks accounting software

Software: MoneyWorks accounting software

Yes. You can import names such as Supplier and Customer into MoneyWorks accounting software instead of entering it manually when migrating from other accounting software (You may have to tidy up the source file if the exported file from your existing software is messy, garbage in garbage out).

customer-imported

Apart from the standard fields such as the Company name, contact person, address, phone, fax, and email; you need to prepare the file with Name Code and Name Type.

The Name Code is a code uniquely identified the name. The maximum characters allowed for the name code is 11 (Alpha-numeric). For example, you have a customer ‘Best Accounting Firm LLP’, the name code could be ‘BES001’. The first three characters of the name code, BES, is same as the first three characters of the company name.

Name Type is important. It specifies whether the name, customer or supplier, recorded is a cash or credit (accrued) name type. ‘0’ is ‘False’, ‘1’ is ‘Cash’, and ‘2’ is ‘Credit’. For example, you give a customer 30 days credit terms and this name is not a supplier. You set the Customer Type as ‘2’, Payment Term as ’30’ and Supplier Type as ‘0’.

import-customer-name

Once you have prepared the source file, import the name from the File menu. MAP the fields in the Import Wizard and start import names into MoneyWorks.

QuickBooks data file migration

Just did a data migration for 5 data files from QuickBooks 2006/07 to 2009/10 Enterprise. One of the data file was 250 MB, it can be consider as quite a big file.

At the end of the data file migration; I discovered that there was a $0.12 different in the Balance Sheet between the version 2006/07 and version 2009/10.

It was just a $0.12 different; most of the consultant will simply pass a journal to resolve it. Thus, passing a journal is a last resort that I will do.

I traced the error and found that the different was between the Inventory Asset account and Retained Earning account. Since it was an error in Retained Earnings, this issue should be in the last financial year.

Next, the other affected account was the Inventory Asset account, so the problem could be the transaction between the Inventory Asset and Cost of Goods Sold. This make sense to me, the Cost of Goods Sold account does affect Retained Earnings.

I traced down further and discovered that there were two Inventory items, one with a positive $0.02 and the other with a negative of $0.14 different.  So, these two items added up gives a negative of $0.12 which was the correct missing amount.

This was due to the auto adjustment in the Inventory cost that was not properly created in the previous version (I will Blog about negative stock in my future Blog post). Since it was in the previous financial year, account was already closed, and I cannot leave the different in this new version. So, I did a stock value adjustment to adjust the amount back to be the same as in version 2006/07.