TFX Biz-Flow Comprehensive Guide
  • Quick Start
    • Sell Module Guide
      • Introduction
      • Navigating the Sell Module
        • Dashboard
          • Features
            • Access to Critical Data
            • Interactive Reporting
            • Actionable Insights
        • Product Management
          • Overview
          • Adding a New Product & Services
          • Adding Products/Services via CSV
        • Price List Management
          • Overview
          • Setting Up & Updating Prices
        • Customers Management
          • Overview
          • Adding New Customers
          • Customer Information Management
        • Invoice Management
          • Overview
          • Invoice Creation
          • Editing and Deleting Invoices
      • Compliance with LHDN's E-Invoice Enforcement
    • Buy Module Guide
      • Introduction
      • Navigating the Buy Module
        • Dashboard
          • Features
            • Access to Critical Data
            • Interactive Reporting
            • Actionable Insights
              • Purchases with PO
              • Purchases Without PO
              • Detailed Procurement Tracking
        • Purchase Requisition
          • Overview
          • Step-by-Step Guide to Creating a Purchase Requisition
        • Initiating Quotation/Tender Process
        • Vendor Evaluation
        • Selecting a Vendor
        • Supplier Invoices and Goods Receipt
          • Goods Received Note
        • 3-Way Matching Process
        • Handling Discrepancies in Procurement
        • Inventory and Asset Management
        • Additional Procurement Scenarios
        • Conclusion
    • Pay Module
    • Accounting Module
      • Right of Use (ROU) Asset
      • General Ledger
      • Direct Costs
      • Viewing General Ledger Accounts
      • Subsidiary Ledgers
      • About Debit Note
      • Real-Time Financial Statements
    • Manage Module
      • Inventory Module
        • Inventory Management
        • Our Inventory Management Application
        • Product & Material Inventory Ledger
        • Transfers
        • Issues To Production
        • Adjustments
        • Importance of Stock Count
        • Valuation of Inventory
      • Asset Register Module
        • Non-Current Asset Register
        • Fixed Asset Register
        • Depreciation Methods
        • Disposal/Write Off of Fixed Assets
        • Asset Impairment
        • Maintenance History
      • Project Accounting Module
        • Contract/Project Accounting Module
          • Project Accounting
          • Contract Accounting Ledgers
          • Invoicing
      • Data Migration Module
        • Migration at the end of a Financial Period
        • Migration Process for Trade Receivable and Payable
        • Migration of Fixed Assets
        • Migration of Inventories
        • Migration of Other Asset, Liability, and Equity Accounts
        • Migration During a Financial Year
        • Trade Receivables & Payables
        • Our Data Migration Facilitations
        • Sales Invoice Migration
        • Vendors Invoice
  • FAQs
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  1. Quick Start
  2. Manage Module
  3. Data Migration Module

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.

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Last updated 1 year ago