Monday, February 09, 2015
When the WIP is transferred over from MYOB AE, is it just the WIP balance (as a single figure) which is brought across, or is it broken down with the various narrations as it would currently show in MYOB AE?
It is possible but it is typically quite ‘ugly’ as varying staff charge rates can skew the information brought across. Best Practice is to bring across an opening WIP balance, which is why during the 4 week preparation stage, we encourage firms to drive down WIP and DEBTORS in preparation to GO LIVE. It’s also why we will carefully choose a GO LIVE date to preferably occur at the end of a month, quarter or financial year.
Posted by Joe Winston
on Monday, February 09, 2015