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Acquisition of a new company in Intacct software

A new company has been acquired by the group. This acquisition is to be moved to Intacct, the accounting software used by other group companies. What list of requirements should I ask from the local accounting team.

Answers

Ken Stumder
Title: Finance Director / Controller
Company: Ken Stumder, CPA
(Finance Director / Controller, Ken Stumder, CPA) |

The same data used in the implementation process by your group is what you'll need to migrate the acquired company's books over. I am working from memory, but there is a section called "Company Setup" or something along those lines where all the basic data templates for ledger and subledger transactions are available.

Your migration approach will vary depending on the business and your information needs, etc. Reach out to Intacct's support team, they should be able to offer you some guidance (plus if the new subsidiary is surviving as an entity you might need to purchase additional licenses).

Hope this helps,

Ken

Qasim Asghar (ACCA, CPA)
Title: Finance Manager
Company: Anasy Media, Dhabi Group
LinkedIn Profile
(Finance Manager, Anasy Media, Dhabi Group) |

Thanks Ken!
Appreciated

Len Green
Title: Performance Improvement Consultant and E..
Company: Haygarth Consulting LLC
LinkedIn Profile
(Performance Improvement Consultant and ERP Strategist, Haygarth Consulting LLC) |

Qasim
In addition to the Company Setup info that Ken mentions, you should get the local team to explain and define the various transactions that need to be processed and how. These processes will help you decide what accounts and dimensions to use, which transaction definitions to set up and what testing you should do to ensure that the migration works as intended.
Start with a sandbox entity to help the new folk learn the system and make sure they undergo training (see the customer portal).
Regards
Len

Qasim Asghar (ACCA, CPA)
Title: Finance Manager
Company: Anasy Media, Dhabi Group
LinkedIn Profile
(Finance Manager, Anasy Media, Dhabi Group) |

Thank you Mr. Green!

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