Dale
Sarbanes Oxley or not, this is the right method. Great Summary!
Kevin
mobile (909) 762-1384
-----Original Message-----
From: mapics-l-bounces@xxxxxxxxxxxx [mailto:mapics-l-bounces@xxxxxxxxxxxx]
On Behalf Of Gindlesperger, Dale
Sent: Monday, May 03, 2010 1:16 PM
To: MAPICS ERP System Discussion
Subject: Re: [MAPICS-L] Transition to a New Company
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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