Considering new accounting software?
03 May 12
Making the decision to change accounting software can be a significant undertaking. One of the main considerations when implementing a new accounts package is to ensure that the new system goes live at an appropriate date. There are a series of dates which act as a sensible ‘switch over’ point for a number of reasons. These include:
1. Year End
• A year end is the best time to set for the go live of a new accounts package. Using a year end as a starting point means that you will not be reporting out of two systems in one year, and are therefore able to create a full set of management accounts, which contain absolute final figures, with ease.
2. Half-Year or Quarter End
• Using a quarter or half-year end carries the same benefits as noted above. Both a Quarter End or Half-Year end can as a natural break between two different accounting systems, ensuring an easy switch over process and transparent management reporting.
3. Month End
• Although not as attractive a kick off as a Year, Half-Year or Quarter End, a Month End can provide a neat starting point for a new system. The reason behind this is that the management reports at the end of each month should provide a set of opening and closing balances which can be transferred into a new system.
4. VAT Quarter
Different accounting systems can calculate VAT differently so it makes sense to begin using a new accounting system at a new VAT quarter. This will ensure that your VAT reporting remains transparent, especially if you face any VAT inspections in the future.
Working with the right software partner will ensure that any transition is painless, and your accounting systems will be migrated without disruption to your staff or accounting processes. If you are considering a new accounting software package and would like to discuss your requirements in more depth please contact the Cornerstone team on 0845 600 2008 or complete our contact form.