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Early in the project, we need to have a meeting over the phone or on site in order to help us all understand and plan for the financial work that might need to be done around the following.

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• Chart of Accounts - Reviewing the standard chart of accounts.
  This involves setting up the main and extra bank accounts. Readysell leaves you with with the chart of accounts to review/modify/add accounts etc  Creating/ Modifying a general ledger account.
  Please have available all Bank Account details
• Tenders - once the mandatory general ledger bank accounts are set up in the chart of accounts, the tenders table is reviewed and linked to the appropriate bank accounts. Extra tenders may also need to be created if you have more than one bank account. Creating a type of Bank Account and linking a Tender Getting started with tenders
• Bank Reconciliations - A discussion is had to determine what is required and how the starting position is inserted into Readysell for the closing of each bank account reconciled in your old system. Setting up for Bank Reconciliations Go Live Performing your first bank reconciliation - To be done by Readysell
• Supplier Payment Runs and ABA - A system reference needs to be set up if you wish to use the ABA file extract when doing a supplier payment run. There will also be a very brief training session on what is needed to get a supplier payment run going.
  Please have available your ABA settings. Setting up automatic generation of ABA files for supplier payments
• GST -  Accrual or Cash Basis. - Set up of the system reference to define if you are Accrual or Cash Basis. Brief review of the GST items and Batch run.  
  Please find out if you are Accrual or Cash Basis
• The Process of Implementation of Financials Data - Readysell does not import any financial data. Starting positions are entered into Readysell to stand for closing positions in your old system in certain financial area. See link to document Setting up of General Ledger Financials Go Live 
• Customer Payment processes - See the link to document.   Readysell will touch on customer payments briefly if no training has been conducted in this area. Customer Payments Training Guide
• End of month procedures - See link to the document. There will be no training on the end of month process just a brief discussion. When you get close to the End of Month you can read the document and/or book a time for Readysell help by submitting a ticket . See link to document Customers End Of Month Procedure Suppliers End Of Month Procedure 
• Financial Reports - See link to the document. Readysell will touch briefly on the Financial Reports available. Key Form Reports Overview
• Cash Counts/End Shifts - The requirements and set up will be actioned in this session if not already done so.  Normally training on cash counts and end of shifts can be done once you go livewould have been completed. Readysell will touch on Cash Counts/End Shift briefly in this session. Shifts
• Product Categories - Explanation on how product category works in respect to breaking up your postings to the general ledger focusing more on Non Stock Products. You are then left to tidy up the Product categories to suit your companies needs. Product Categories
• Payroll - Brief discussion and left with the link to the document to start your set up. Payroll
  
  
  

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• Agree on the date of the first supplier payment run after go live
• Setup your bank accounts
  
  • Obtain a list of your bank accounts and set them up.
    In particular bank accounts that we reconcile.
    We normally do this quite early in the project. You may wish to reconcile your petty cash bank account and credit card accounts
  • Setup your bank accounts in your live Readysell system.
    We must ensure the bank accounts are setup as assets for deposit accounts and liabilities for things like long term business accounts. 
  • Ensure the names on the bank accounts agree to the names on the bank statements
  • Examples of bank accounts that you may have include a customer deposits account, a cheque/payments account and account/s for any business credit cards
    • Setup your ABA user and six digit APCA file number . See also Setting up automatic generation of ABA files for supplier payments
  • Decide which bank accounts need a reference check. Smaller bank accounts might just be reconciled without automatic matching
  • See also Bank Accounts and Setting up for Bank Reconciliations Go Live
• Setup your chart of accounts
  • Review and modify chart of accounts
  • Decide if any tenders need to be hidden for must transactions, for example DD for supplier payments
  • Decide if any new tenders need to be created such as Eway, Paypal, Gift Vouchers, additional bank accounts etc.
  • Check to see if you need to setup any accounts for:
    • Depreciating assets
    • Accounts for owners drawings 
    • Accounts for loans
  • Decide which expenses need to be broken up for tracking purposes, for example:
    • Fuel expenses on Motor Vehicle Expenses
  • Decide on the level of involvement required from your accountant. Normally your accountant may need to:
    • Be involved in assisting with questions about reviewing the chart of accounts
    • Reviewing and approving the final suggested chart of accounts
    • Reviewing the brought forward values on certain chart of accounts
  • Produce a chart of accounts report to include any outstanding questions. This is to be a shared document so your accountant and Readysell can all see all questions on work related to reviewing the chart of accounts 
  • When creating new chart of accounts entries, we always copy an account next to the new account to be created. That way all of the required checkboxes are filled in correctly on the account. There are may settings, it is hard and error prone to setup new accounts from scratch, best practice is to use the copy button.
  • Never change the account code on any of Readysell's chart of accounts and never change any descriptions of any account code for mandatory accounts eg Sales Revenue
  • See also Accounts
• Tidy up Tenders
  • Review the standard tenders
  • Review the general ledger accounts linked to each tender
  • Decide how cash and other tenders appear on your bank statement.
    We may set some tenders such as cash to compress on bank reconciliations. In order to match bank statements
  • Decide if any customer pays from the web by eway or paypal
  • Decide if you use printed cheques, for example for customer refunds if you don't have access to refund the money to the customers account
  • For tenders that do not need to be used by your organisation, remove the available transaction types from that tender.
    Never Delete a tender. Set the Description to read 'do no use'
  • Determine if you ever do once off payments for suppliers. If so you don't pay by an ABA file.
  • Determine if any tenders need to be limited to particular transaction types. Some tenders might for example be disabled for sale transactions and only available for supplier payments
  • See also Tenders
• Gst 
  • Determine if you are Accrual or Cash Basis for GST.
    Readysell will setup the system reference to set this option appropriately on your Readysell system
  • Define your current GST procedure that is monthly or quarterly
  • Discuss GST tax items and GST Batches in Readysell. This is the procedure Readysell uses to generate a GST calculation worksheet report
  • See also Set up for GST Go Live, GST Items and Tax
• Bank reconciliation
  • Frequency and timing of bankings. You may need an undeposited funds account if you don't bank your physical cash and cheques every day
  • Frequency and timing of bank reconciliations. For example loan accounts may be reconciled very occasionally while trading bank accounts may be reconciled as frequenty as daily
  • Any exceptions to banking, such as not banking petty cash
  • Any bank transfers between bank accounts for things like transfer of money to pay other types of Bank accounts eg Visa etc
  • POS payouts of petty cash amounts if required to specified accounts for specified reasons for payout
  • Supplier payment runs may appear as lump sum files
  • Determine if all supplier payments are via ABA. It is more secure to get your book keeper to do all supplier payments using ABA file and one tender.
  • Decide which tenders for which transactions come through as a lump sum on the bank statement. For example the EFTPOS totals don't line up with the statement. It may require one tender for a number of cards
  • See also Setting up for Bank Reconciliations Go Live, Setting up and using automatic bank reconciliations and Performing a bank reconciliation manually (not importing the bank statement)
• Complete data cleansing/preparation of cards for financials:
  • Define any unusual data imports. Such as importing some cards from multiple systems 
  • All chart of account changes complete
  • All supplier and customer account tenders and bank accounts are setup
  • If contacts and address details exist in multiple systems. Identify which contains the best contact, address and email information
  • New accounts that might be handled as COD during a trial period
  • Financial credit limits and trading terms
  • See also Cards
• Agree timing of initial general ledger journal entry
  • Check that the previous year's end of year has been 
  • The brought forward journal can be delayed for a time after go live. There is no rush to get this figure imported on the first day
  • We have to make sure we all understand the process involved with bringing in the initial balances

  Security setup:

  • Ensure appropriate security is setup for all uses

  • Readysell will show you how to our standard security setup and how it can be applied to users.

  • So that only the appropriate team members can access the financials system

  • Security setup needs to be completed at least two weeks before go live date

  • See Getting started with Users , /wiki/spaces/INT/pages/26018277 and Roles

Readysell will help you design a training program using a combination of the following available training strategies:

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