There are 2 types of Setup for Dealerlogic Accounting:
1.Where you have an existing business with existing accounting data that is currently recorded in another system. We call this with balance conversion, because you have existing balances in your accounts.
2.Where you are starting a new business from scratch and have no existing data. We call this zero balance conversion, because there is zero brought forward prior to setting up Dealerlogic Accounting.
What's the first thing I have to do?
Once Dealerlogic is installed, enter your company information. Gather all other data you will require such as existing stock records, balances of existing accounts, last bank reconciliation etc.
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With Balance Conversion - where do I start?
Prior to enabling (turning on) the accounting functionality and entering any new data into Dealerlogic, your first step is to input all current stock as at your conversion date. Enter every stock item with it's original purchase date and purchase price. Also enter all the costs against each stock item. It is best to enter the costs separately so that if any items have different tax codes etc they can be correctly handled in the system when sold. (See Opening Stock and Reconditioning). After you have entered and confirmed your existing stock, follow the Setup Wizard and complete as much as you can, then call and book-in your Accounting Conversion Call with Dealer Solutions (1300 66 11 33), at least 24 hours notice is required.
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It is vital. Most other information relating to opening entries and data can be updated and amended after accounting is enabled, but stock must be right before you can go on. At the point of enabling accounting, all stock records are allocated flags indicating what their status is and how they are to be treated in accounting. If these are incorrect, it's difficult to change them later. See Opening stock vs Historical stock.
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Does it matter what date I use to convert?
If you have been using Dealerlogic without accounting, then you have transactions in your data up to the current day. That means your conversion date must be in the future because accounting cannot be applied retrospectively. If you have not been using Dealerlogic before, then you can choose an historical date from which to get started based on how much re-keying on information you would like to take on.
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Zero Balance conversion - where do I start?
Because the definition of Zero Balance conversion is that there is no historical data, once you've set up Dealerlogic with your company information you are ready to get started. Follow the Setup Wizard through, then Enable accounting.
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Opening stock vs Historical stock
Data entered prior to conversion (with balance) inherits certain attributes when the conversion is done. Stock items that were purchased prior to conversion but not sold become Opening Stock. Stock items sold prior to conversion become Historical Stock. These attributes are fixed at conversion and cannot be adjusted later. Opening stock items cannot have any details regarding their purchase altered, such as purchase date, vendor, purchase price or load amounts. If the purchase had not yet been paid, then the outstanding amount should be entered as an Opening Payable. Historical stock can have no changes made at all in relation to purchase or sale details. The only reconditioning amounts that can be entered must be marked as "Warranty".
last updated 18/04/2018 |