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Branch Split Open AR Transfer

  • 9 June 2023
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dmzasdf
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Hi!

Branch A open AR is moving to a new Branch B; Branch A will become inactive and Branch B will contain part of another Branch C that will stay active.

  1. We use an Open AR import in migration mode to move the AR, but unsure whether Branch A open AR will be closed out when migrated to Branch B or will we need to do something on our end for that? 
  1. Team thinks we might have to do a customer payment for the open AR and then clear the balance from the Branch A bank account to Branch B AR, but would like to know if that’s the best path?

Either way, we will test in sandbox before executing in production.

We are running Acumatica 2021 R2, Build 21.212.0039 customized with ProcoreBuiltCustomizationPackage2021R2V4, VelixoConnectedAppConfig, VelixoLiteDACs

Thank you,

Dave Z

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Best answer by Laura02 9 June 2023, 22:59

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Laura02
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Hello, 

When migrating Branch A balances, I expect you are using an Aging report as the source to identify the customers, open invoice amounts, etc. and then entering them as new invoices on branch B. New invoices will be entered for branch b. Migration mode means only that the new branch B invoices won’t post to gl. Is that what you want? (Ask the CPA.) If GL balances are being migrated separately to branch B, t hen you do want migration mode on.

 

No invoices are actually moved in migration mode, not literally. Original invoices will still appear on company A unless payments or credits are entered against them. Again I recommend leaving the decision whether to “pay” the invoices in company A to accountants. When a business is sold or merged , sometimes the history is left intact for reporting purposes.

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Please remember to "Mark Best Answer" to help those who are facing the same problem.~
dmzasdf
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Thank you, Laura.

The part we are looking to solution is the original invoices that will still appear on company A unless payments or credits are entered against them.

The CPA is thinking to do a customer payment for the Branch A open AR and then clear the balance from the Branch A bank account to the Branch B AR.

Is that the best path?

Thanks again,

Dave Z

Laura02
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Hello, 

Yes, I think your plan will work fine:

Enter open Company A invoices in new Company B.

Enter credits to zero out open invoices in company A.

Enter opening balance to cash/inter-company to transfer cash to new company.

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Please remember to "Mark Best Answer" to help those who are facing the same problem.~

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