Converting from Another Accounting Package to GoldFinch Accounting

Overview

This page has the best practice for companies who have been using GoldFinch with another Accounting package for some time and wish to convert to GoldFinch Accounting.

Steps

1. All GoldFinch Customer Ledger Entries and Vendor Ledger Entries will be deleted by a GoldFinch consultant.

   1. This is required so that you can have clean beginning AR and beginning AP.

   2. To maintain GoldFinch system integrity, only GoldFinch consultants can delete ledger entries.

2. All temporary sales invoices and purchase invoices will be deleted by a GoldFinch consultant.

3. For all existing Sales Invoices and Purchase invoices that are posted, a GoldFinch consultant will edit the Historical Invoice field to “true”.

   1. This is required so that you can have clean beginning AR and beginning AP.

   2. When the Historical Invoice is checked, the Payment Status will become “Fully Paid.” For new invoices, the Payment Status will be calculated from the related Customer Ledger Entry or Vendor Ledger Entry.

   3. To maintain GoldFinch system integrity, only GoldFinch consultants can update posted documents.

4. Follow this page 10) Enter or Import Beginning Balances to import beginning AR, AP, and historical GL into GoldFinch.

Optional Steps:

You may create the custom tables listed below for historical transaction tables. It is not a good idea to insert historical entries into GoldFinch tables because it is too time-consuming, and the results might be inaccurate.

1. Billing

2. Cash Receipts

3. Payables

4. Cash Disbursements

5. AR Applications

6. AP Applications

7. GL Transactions (both from GoldFinch or not from GoldFinch)