Implementing Cloud Financials: From Empty Pod to Go-Live · Module 14 · Data Migration and Integration
Opening balances
Lesson 137 of 153 · 13 min
Load an opening trial balance as a journal, using a dedicated conversion source so migrated entries stay identifiable forever. Load the open payables invoices and verify the payables balance agrees to the trial balance line. Load the open receivables transactions and verify the same. Load the asset register with accumulated depreciation. Then reconcile: subledger balances against general ledger control accounts against the legacy system, and produce the reconciliation pack. Subledger balances must agree to the general ledger control accounts before go-live. If they do not, you go live with a permanent difference nobody can explain. This is the single most important reconciliation in the whole project, and it has no later fix. And assets need cost and accumulated depreciation separately, with the depreciation not re-running for prior periods — an asset that depreciates twice for the same year is painful to correct at scale.
The full lesson is part of the course
The video, the complete written lesson and the module quiz are included in Implementing Cloud Financials: From Empty Pod to Go-Live, with a certificate on completion and a fourteen-day refund window.