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Going Live with Banking

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Posted on by 3,476

Hi:

The following are steps that are being taken for going live with Banking:

(1) Set up the bank accounts,

(2) Test A/P processing including EFTs in a test company,

(3) Test conducting bank reconciliation including use of the Yodlee feed in a test company, and

(4) Import opening bank balances in a test company to agree to the G/L.

Is there anything else that should be conducted?

Thanks!

John

  • Verified answer
    YUN ZHU Profile Picture
    YUN ZHU 59,766 Super User on at
    RE: Going Live with Banking

    Hi, Steven shared a very nice Go Live Checklist. Hope this can give you some hints.

       

    pastedimage1661211270756v1.png

    Thanks.

    ZHU

  • john.ellis Profile Picture
    john.ellis 3,476 on at
    RE: Going Live with Banking

    Other than the importing, is there anything else?  :)

  • Suggested answer
    Dallefeld Profile Picture
    Dallefeld 11,415 UG Leader on at
    RE: Going Live with Banking

    4 - you don't import just an opening balance. You need to make sure that your outstanding items (checks and deposits) are in your bank account(s). Generally, I put these in a GL journals with the bank on one said and the associated GL on the other (net zero effect on the GL. This does mean that you have to open direct posting on the GL accounts for the banks, post the journal and then turn direct posting off.

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