Trade Receivables & Payables

Data migration is conducted by transferring CSV files. To facilitate this process, a CSV template is available for download for each module in the settings. When filling out the CSV file, you can use your previous invoice reference. However, if you are migrating into a new financial period, please ensure that the date on the invoice falls within the previous financial period. Additionally, in the description column of the template, please designate the entry as an "opening balance." It is crucial to accurately complete the template with the specific information required.

For trade receivables and payables, it is important to reconcile the total invoice amounts to be migrated with those in the general ledger before uploading the CSV file. Successfully uploading the CSV file will create an opening balance for each customer in the trade receivable ledger within the SELL module and for each vendor in the trade payable ledger in the BUY module. Simultaneously, the customers/vendors master files will be created in their respective modules. The total amount of migrated invoices will be automatically posted to the appropriate account in the general ledger. These postings will also be reflected in the retained earnings, eliminating the need to migrate general ledger accounts for trade receivables and payables.

Here are the 6 most important steps for a data migration from an old ERP to a new ERP system:

1. Assess and document the existing ERP system: Understand the structure and dependencies of the old system, and identify potential issues.

2. Analyze data mapping: Determine how data in the old system will map to the new system, and develop a plan to bridge any gaps.

3. Cleanse and validate data: Ensure data quality and accuracy by cleansing and validating the existing data.

4. Develop a migration strategy: Define a strategy for migrating the data, considering complexity, time constraints, and business priorities.

5. Plan the migration process: Create a detailed plan with tasks, timelines, and resource requirements, including a contingency plan.

6. Execute the migration: Transfer the data from the old system to the new system, monitor the process, and resolve any migration errors.

Remember to involve key stakeholders, communicate effectively, and document all steps taken for future reference.