26 Feb Ledger Conversions
What Are Ledgers and What Can you Convert?
Accounting firms use “Practice Management Software” which normally has a Ledger for each business, and then a range of workflow management, document managing, specialist tax products that integrate all these into a suite of software.
Jet Convert can convert bulk ledgers providing that a Trial Balance (multiple dates) can be exported as a CSV or Excel.
- Reckon APS (Accountants Practice Manager) sold as as the Reckon Elite Range. Reckon claim 600 practices use APS and 70% of the top 100 accountants use APS.
- Sage Handisoft. Sage purchased Handisoft a few years ago and is dominant in the smaller accounting practices (7500 accountants)
- MYOB Accountants Enterprise Practice Manager (AE) is for larger offices and Accountants Office (AO) is targeted at the sole practitioner.
- Thompson Reuters CS Accounting – US based practice management
- Excel spreadsheets
Globally there are a large number of ledger based systems and Jet Convert will be able to convert if you can extract full trial balances.
What is Needed for conversion
- Exported CSV for each organisation – can have multiple financial years (or months).
- A Master Chart of Accounts (code number, code name, tax code, Reporting Code, and values.
- A Control file that includes Ledger name, Financial year, Number of years of CSV, Type of organisation, and some fields used for automated testing.
- Any number of chart of accounts files for the different type of organisation.
- Values in the Control file that can be checked against the new Xero Ledger to ensure accuracy.
- Download a subset of the Trial Balances for each of the financial years and combine into a single csv for the multiple years.
- Prepare a standard Chart of Accounts for use in Xero.
- Provide access into your practice ledgers to convert the files into ledgers.
- Test a limited number of organisations in the conversion to ensure all the right data is brought into Xero.
- Run the full conversion on all ledgers.