How to deal with loads of accounting data?

The Financial Integration (FI) aspect of Compiere means Accounting Consequence, and stuff that makes Accountants rule. Well, IANA.

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How to deal with loads of accounting data?

Postby hema » Fri Feb 11, 2005 4:47 pm

Hi,

I would like to ask these following questions:
suppose a company decides to install Compiere and loads its new accounting csv file into the system while creating the new client. From then the data obtained from current accounting transactions will be recorded it the database.
But what happens if the company still wants to make use of previous year's accounting data. How can Compiere refer to those data?
Moreover, say, at the end of the 2005 financial year, will the company have to remove 2005 accounting data from Compiere and start afresh?
Compiere provides BackupCold.sql. Is it useful for performing a back up of the accounting data? In what format will the data be stored and how can Compiere access it again ?

Thank you very much,
Hema
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Postby red1 » Fri Feb 11, 2005 9:46 pm

Hema,
I think there is an Accounts Import to handle that. Basically its to populate the AcctFact, which is what u wanted.

The accounts.csv is just the chart of accounts and not the accounting facts, which will have to be made present by way of importing them. Or by journal entry and posted to old dates.

Thats what i can think of. If others know better, pls tell.

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Postby azaharizaman » Mon Feb 28, 2005 2:35 pm

Dear Hema,

i am not a professional accountant but let me try, but let me get to the point first, are you trying to migrate the data from old software/or manual ledger into Compiere. If so, you can use the imports file loader to import invoices and stuff. Some of the GL entries can be loaded straight into compiere using the Import GL Format.

If you are using a new Chart of Account in Compiere, it is wise to make a transition formating first to the data which you are going to import into compiere, just to ensure that the data are posted to its correct account code.

I am working on a Project here in Malaysia, where one of the requirements is to migrate all data from the client's old system into Compiere. What i did was, firstly i have to Import the Chart of Accounts into Compiere. Since my client are using a new set of Chart of Accounts (not really new, but some codes are changed), so i have to do a transition formating, where i matched each and every old account code to its new account codes, then match all transactions account code to the new corresponding account codes. Sound like a lot of work, but if you are working on Microsoft Excel (and the formula, sort, filter function), that might speed up the work. Then we have to analyze these data set, by comparing those transactions in a set on its old account codes and on the new account codes. If everything went well, we then have to import those transactions into compiere using the Import GL File Loader. But u have to make sure that the data to be imported in this way must first be posted and completed. Transactions that are still open need to be imported differently. U can use Import Invoice for this task. And remeber to do another analysis on the migrated data, just to ensure data integrity is maintained during the migration.
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