Preparing and Transferring Accounting Details
When the Orion system is created, the month and date for the first general ledger postings must be decided. There are also three specific general ledger accounts that need special handling in order to optimize your database for accounting and reporting; 1- Pending/Aged Receivables, 2- Refundable Resident Security Deposits, and 3-Refundable Property/Unit Security Deposits.
*Refundable property security deposits may be handled with a single entry posting similar to the Aged Receivables if desired. The tracking and reporting tools provided by Orion will not be available if single entry posted.
When you are ready to recreate the detail manually in Orion for each of the following:
1. Detailed Aged Receivables
2. Refundable Resident Security Deposits
3. Refundable Property/Unit Security Deposits
Print the Trial Balance from your old accounting system : The affected accounts from the manual creation of data that is outlined below will need to be offset from the Trial Balance just printed BEFORE the beginning Trial Balance Journal Entry is made in Orion.
Go-Live Month/Date : The accounting processes must begin on a specific period/month during the year, typically on the 1st. This will facilitate the entering of beginning balances from the previous period/month from the old accounting system into the Orion database, thereby giving a complete financial picture for the calendar/fiscal year.