We have a construction contractor who is making the transition from PeachTree/Sage to Spectrum in 2020. They currently generate about $60 million in revenues and prepare job costing. They are looking at their Chart of Accounts and want to clean them up before they switch to a new system.
Does anyone here have input for tips & tricks that you have learned through your own experience?
Thank you in advance!
Christina A Pearsall, CPA
"Enhancing our clients' lives by providing peace of mind since 1972"
FBCPA Group PS, Inc.
Certified Public Accountants
PO Box 490
Auburn, WA 98071
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1519 W Valley Highway N, Suite 201
Auburn, WA 98001
If your client will be looking to produce financial statements from Spectrum, it is easier in the development of the statements if the chart of accounts are grouped. For example fixed assets, we present our five different fixed asset accounts separately, sum the accounts and then show our accumulated depreciation in total. To easier build the financials, our fixed asset accounts are in the 1400s and our accumulated depreciation is in the 1500s.
Whoever is working with your client on conversion and implantation, should be able to provide them with more guidance.
We went live on Spectrum in June 2017, so feel free to reach out if you have additional questions.
Charles R. Dixon Jr. CPA Corporate Controller
Hatzel & Buehler, Inc.
P. O. Box 7499 Wilmington, DE 19803
(o) 302-483-7304 (c) 302-373-8329 firstname.lastname@example.org
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Hello all, and happy Friday!
When we started with our system we had a HUGE list, right away I removed the obvious ones that we knew we did not need, after that every year we have made some changes as needed. No matter what software they have carrying over the COA that they have is a great start and then growing from there as they see where they could use more detail or removing where they see that it is not needed is probably best. Each company, owner or accounting department is probably going to be a little different in what detail they want or need to see.
For example: This year I started providing the owner more detail on when our field guys are buying lunches for "non" sales meetings. So, for each other or random field people because I felt that I started to see a huge trend in that. At the end of the year I wrap that number back into my M&E account.
Good luck in your transition!!!
Tori W – Accounting Manager
(O) 480-237-0765 1736 S. Nevada Way, Mesa AZ 85204
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Thank you so much...I have several responses to go through. If I have other questions, I will let you know.
Have a great day!
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