In this conversion setup step you will manually replicate the DBA chart of accounts in the financial accounting system. Prior to embarking on your conversion, we recommend that you read the entire Financial Transfer Guide to get a good overview of how the system works.
Replicate the chart of accounts
Through manual entry, replicate the DBA chart of accounts in the financial accounting system, using the same account numbers and descriptions. This will provide continuity between previous financial statements in DBA and future financial statements in the new system.
Account types and classifications will be different
Each accounting package has its own account types and sub-classifications structure. For example, specific account types may be provided for fixed assets, bank accounts, loans, and credit cards. Use the DBA account types, account classes, and groups for guidance, but you may freely make adaptions as needed to fit the classifications provided by the new system.
Banking Accounts
In DBA banking accounts are maintained in a separate table and are cross-referenced to GL accounts. It is more common in other systems for bank accounts and credit cards to be set up as GL accounts specified as bank account and credit card account types. Bank account types typically can be linked to online banking services.
Add the two transfer accounts if needed
There are two accounts that will be needed for AR and AP voucher transfers. These accounts are included in the DBA standard chart of accounts, but if they do not exist in your chart of accounts, they must be added to the charts of accounts in both systems.
11150 AR Invoice Transfers (Asset)
20300 AP Invoice Transfers (Liability)
