Converting to Moneyworks
Converting to MoneyWorks?
Switching accounting software can seem daunting, but transitioning to MoneyWorks is a straightforward process with the right approach. Here’s a step-by-step guide to help you convert your existing accounting data into MoneyWorks efficiently.
1. Prepare for the Transition
Choose a Swap-Over Date: Select a date to switch systems. The end of a financial year or a trading month is ideal, but any convenient time can work. Ensure your closing balances from the old system match the opening balances in MoneyWorks1.
Gather Necessary Data: Collect all essential information from your current system, including:
- Customer and supplier details
- Item lists and pricing
- Inventory counts and valuations
- General ledger accounts and balances
- Outstanding orders and quotes2
2. Export Data from Your Current System
Most accounting software allows data export in formats like CSV or Excel. Look for export options in your software’s menu. If your software doesn’t support direct export, you might need to manually compile data into spreadsheets3.
3. Format Data for Import
Clean and Organize Data: Ensure your data is well-structured, with consistent columns and rows. Remove any extraneous information that isn’t needed for the import2.
Customer and Supplier Information: Ensure each customer and supplier has a unique identifier. If your old system didn’t use unique codes, create them in your spreadsheet2.
Inventory and Items: Prepare your item list and inventory counts. If you have a large inventory, consider using scripts provided by MoneyWorks to streamline the import process2.
4. Import Data into MoneyWorks
Use MoneyWorks Import Tools: MoneyWorks offers flexible importing capabilities. You can import data directly from text files or spreadsheets. Follow the guidelines in the MoneyWorks manual for specific data types1.
Scripts and Automation: Utilize free scripts from MoneyWorks to import complex data like receivables, payables, and inventory2.
5. Verify and Adjust
Check Data Accuracy: After importing, verify that all data has been correctly transferred. Check balances, customer and supplier details, and inventory counts against your old system2.
Adjust as Needed: Make any necessary adjustments to ensure accuracy. This might include correcting any discrepancies or re-entering data that didn’t import correctly2.
6. Finalize the Transition
Enter Opening Balances: Ensure that your opening balances in MoneyWorks match the closing balances from your old system. This step is crucial for maintaining accurate financial records2.
Train Your Team: Familiarize your team with MoneyWorks. Take advantage of training resources and support offered by MoneyWorks to ensure a smooth transition1.
Conclusion
Converting to MoneyWorks can significantly enhance your accounting processes with its powerful features and flexibility. By following these steps, you can ensure a smooth and efficient transition, allowing you to take full advantage of MoneyWorks’ capabilities.
If you need further assistance, consider engaging us to assist you to ensure smooth transitions.
1: Cognito. “Changing to MoneyWorks.” Cognito.co.nz. 2: Cognito. “MoneyWorks Resources and FAQ » Converting to MoneyWorks.” Cognito.co.nz. 3: Cognito. “Moving to MoneyWorks from QuickBooks.” Cognito.co.nz.
