In MAS 500, 7.2 September 2008 update, my company will be changing the g/l structure from a 4 digit natural account to a 3 segment g/l number = 4 digit natural account + 4 digit source department + 4 digit destination department. Can someone confirm the best methodology to doing this? The goal is replace all of the current transactions w/ new transactions reflecting the updated g/l structure with drill down traceability. This is in support of implementing an allocation environment to produce P&Ls by profit centers vs. having one consolidated P&L.
Here is my take:
- Close the month end (June)
- Run all of the financials for June (trial, balance sheet, P&L, etc). Verify Jan-May financials are available.
- Backup the database
- Export the transactions using g/l export utility (data type = posted transactions, all journal types, at the detail level, all accounts, by month).
- Update the g/l by adding segment 2 and 3 to the g/l and make any updates to the natural accounts. The natural account will stay about 90% the same but some accounts will be removed and others added to the existing structure.
- Generate the full g/l structure
- Create an import journal transaction file that maps the current structure to the new structure.
- Import January transactions
- Recalcuate balances
- Run trial balance, balance sheet, P&L for validation
- Repeat steps 8-10 for Feb - June
- Run allocations for Jan
- Balance reports
- Repeat steps 12 and 13 for Feb-June
Sorry for the long posting,
Stephen
