Jeanne,

You can do what you are asking, but there's some issues that you haven't mentioned. First, is this going to be a publicly held company? If so, Sarbannes-Oxley requirements will probably dictate a lot of stuff you will have to do. In my experience, the "how to" on these is dictated by the accountants.

I've gone through this at a prior company, and what we did was create two new environments ("ME" and "MS", for example), do a backup at the close of business on your last day of business as the old company (assuming it's the "MM" environment), then restore it to the "ME" and "MS" environments. Lock down security in the "ME" environment to a VERY select few that would be responsible for closing the old business, and TOTALLY lock down the "MS" environment, NO changes. That gives you a clean snapshot of the close of business. This DOES assume you have plenty of disk available (but disk is cheap nowadays).

ME is the environment you use to close out the old company, MS is the snapshot you can refer back to to get "point of sale" questions answered.

You can then close out the books on the old company (ME), while continuing to run the new company as "MM". The only issue is that you may have to make manual journal entries in "MM" if closing out the old company impacts the financials for the new company.

That's one option. Another one (mentioned by someone else), which is equally valid is to create the new environment and run the new company as the new environment. Which option you choose is actually up to what the accountants are most comfortable with.

This is, of course, pretty simplified, but using this approach lets you cover about every contingency.

Dale "Cork" Gindlesperger, CPIM
Senior Business Analyst
Cell: 814-442-1291
________________________________________
From: mapics-l-bounces@xxxxxxxxxxxx [mapics-l-bounces@xxxxxxxxxxxx] On Behalf Of Jeanne Schrader [schraderj@xxxxxxxxxxxxxxxxxx]
Sent: Monday, May 03, 2010 3:20 PM
To: mapics-l@xxxxxxxxxxxx
Subject: [MAPICS-L] Transition to a New Company

Good Afternoon Group,

Our company was just purchased out of receivership, with the transfer of
ownership in five days.

I need to create a new environment for the 'old' company data. Close
out payroll and save the W2 information for the 'old' company. We need
to keep AP, AR open for a time.

We want to run the current environment as the 'new' company, our CO's &
MO's will stay with the new company. What happens with our GL?

Does anyone have ideas that will help, a 'cheat sheet' for what to make
sure gets closed, transferred, etc. when doing this?

Thanks in advance,


Jeanne Schrader
IT Manager
Milwaukee Forge
Phone: 414-489-7067
Fax: 414-489-7090
email: schraderj@xxxxxxxxxxxxxxxxxx




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