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The SB Digital team work with a number of clients across of various size and structures across different industries. Each client has a unique problem to solve and each project is bespoke. Recently they have been working with an international communications agency specialising in sustainability, sport and reporting.
Background
The client is a traditional owner-managed business that previously used Sage line 50 for their accounting work. They outsourced their finances, and to keep costs down wanted to work with an external financial controller. To enable this to happen, they moved from Sage line 50 to Sage Business Cloud, a cloud solution that anyone could work on remotely if they had an internet connection. However, in doing so they didn’t move across any historical transactions. This created some serious issues in accessing and referring to historical items as it required jumping between the two systems. Their preferred outsourced financial controller also had a preference for Xero, due to limitations on the Sage Business Cloud product.
The Challenge
The agency wanted to move seven years of data from both Sage line 50 and Sage Business Cloud so that all information required for tax and legal reasons was in one place, fully reconciled and ready to go. There are no tools that do this as most data transitions are from one system to another and require a blank license for conversion. MoveMyBooks is a system that can transfer historical transactional information but only on a one system basis and only on selected systems.
The Solution
The SB Digital team utilised a combination of both a software driven conversion and a manual conversion via an outsourced team to combine both data sets into a single unified historical ledger in Xero.
MoveMyBooks was then used to convert the old Sage Line 50 data into Xero. This was reviewed for accuracy, as the team knew from experience that errors are known to occur for VAT and bank transactions in this type of conversion. Once this was done, the opening balances in Sage Business Cloud were matched to the final balances in Xero. An external consultant was used to import sales, purchases and bank transactions from the Sage Business Cloud file into Xero, reconciling them against each other. Similar to the computerised system, we knew that errors are known to occur in this process and so the SB Digital team fully reviewed the data file and made changes to reconcile the VAT, bank and verify closing balances from the transition. Once the data was verified for accuracy, a summary was provided on the system as well as bank feeds, Making Tax Digital connections and invoice templates were all set up.
Benefits
The result is a single historical data set, in the software of choice for the client ready to go. The SB Digital team delivered on a fixed fee in a stated time period.
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