Conversion Checklist

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  • Get Xero Bank Feed form signed by Franchisee
  • Setup Xero organisation & ensure bank account details match form
  • Setup DataSmart company/site for Xero
  • Check all accounts are allocated in DataSmart Site Account
  • Can we use P&L’s, Budget figures from OnTarget

Once bank feed has started + prior accounting month is closed

  • Do Alan’s conversion for Closed period
  • Ensure default half month payment terms setup for McKey and Fresh Start
  • Do Lianne’s conversion  (move site to beta + turn on link)
  • Do Alan’s conversion for open period
  • Fill in any gaps from acchdr between Alan’s open period conversion & Lianne’s conversion
  • Fill in Bank feed with bank export for missing period.
  • Mark as reconciled OT Bank Statement Balance & OT Unpresented Balance. (31/12, 1/1 & eom closed.)
  • Check Cashbook by Cheque matches for Dec & most recent closed month
  • Run Xero Reconciliation report for 31/12/11 & ensure matches Ledger balance.  Run Xero Reconciliation report for eom closed & ensure matches Ledger balance AND Bank balance.
  • Check Unpaid invoices match for Dec & most recent closed month
  • Move McKey unpaid invoices to separate account for 31/12, 1/1 & eom closed/som open
  • Accounts payable credit/invoice and allocate so marked as paid.
  • Print P&L from DataSmart & ensure YTD values match & show up in same line
  • Delete any duplication of bank statements
  • Start bank rec for open month
  • Print Balance sheet in Xero with comparative to last financial year & ensure all numbers match expectation (Total Unpaid Invoices = McDonald’s Distribution Centre + Trade Accounts Payable), Bank Ledger Balances match for both dates, Current Year Earnings match Net profit YTD & Last Year.
  • Give Franchisee access
  • Train franchisee in basic functions.
  • Notify franchisee accountant of the change / give access?
  • Get Asset Schedule entered?
  • Get old trial balance entered for 31/12 & eom closed
  • Enter franchisee number / store number into DataSmart for filing of electronic P&L’s
  • Select the standard Balance Sheet & P&L layouts for McDonald’s in Xero & make them the default for all users.

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