What can I bring over from Simply

Unfortunately most accounting software manufacturers limit conversion capability to their competitor’s products. It is a way to keep their customers from straying. Simply is not alone in this regard. Although MoneyWorks is very open in its design philosophy when it comes to exporting and importing data, it is restrained to what the legacy systems, in this case Simply will provide in both usable data and logical formats.

From Simply one can usually export the following which you can import into Moneyworks (no importing in Cashbook).

  1. The Chart of Accounts
  2. Customer lists complete with addresses etc.
  3. Supplier Lists as above.
  4. Product Lists or, listed Services.

Although it saves a lot of manual entry and keeps your coding recognizable (MoneyWorks is very flexible and does not force our customers to use a particular coding system for identification of accounts, customers, suppliers etc.), that’s about what you can get.

Although you might possibly be able to export sales or purchase history from Simply, you are not provided with any facility to match up when you received payment and placed that payment in the bank or when you wrote a check to pay a supplier, when it was cashed and taken from your account etc. Therefore you can not recreate the actual monthly statements or financial reports in the timelines that they happened.

All customers switching from one accounting software manufacturer to another are forced to close the legacy system, meaning selecting a period in time such as the end of a month or quarter and then exporting and importing the chart of accounts (or using one of modifiable charts), then the other lists above.

The only other items that need to be entered or imported into the new system are open transactions from the legacy system, Accounts Receivable Invoices that you have not yet collected payment from your customer or Accounts Payable invoices from your suppliers that you have not yet paid and any unpresented cheques that have not cleared your bank accounts at the time of conversion.

You can then enter the closing Trial Balance into MoneyWorks via journal entry which the historic balances that will become the opening balances for MoneyWorks.

Note the closing Trial balance can be entered at anytime in the future and does not impede starting the new year.

With those entered you have mirrored the financial status of the legacy system. The conversion can happen at any time during your fiscal year. Your accountant uses the Opening balance of the legacy system, verifies that the mid-year closing of the legacy system matches the mid-year opening of MoneyWorks and uses the closing balances of MoneyWorks to complete your statements. Sounds more confusing, than it actually is.

Customers usually print out reports for the previous quarter from the legacy system for quick reference in case they need it. After the first quarter of using the new system they typically do not go back that often.

What is the downtime?

You can bring over the accounts, name, products ahead of time. In other words set up the company file. You can start entering data as soon as you have your bank balances in and bring over the closing Trial Balance (which is usually the delay) at anytime in the future and it will roll the opening balances forward.

Training, getting used to the application etc. takes a bit, depending upon the number of users.

Most new customers do the conversion themselves, but if you are pressed for time or if accounting databases are not your thing, consider hiring a consultant to convert the file, do training etc, that usually speeds up the whole process.

For more information about MoneyWorks Support in Canada, in the USA, or in the UK contact www.moneyworkssupport.wordpress.com