Why Rebuilding Files

MoneyWorks is a very stable accounting database that adheres to the strictest of accounting principles, producing balanced entries and a full audit trail. However like all databases the resulting information requires that the data be entered correctly.

So if you originally set the date of your financial year incorrectly and did not realize it until the end of the year, or if your accountant decides half way through the year to change the reporting cycle for your company, just changing the dates in period management will not correct that. You would either have to create a new file and re-enter all the data or rebuild the file by cloning it.

Cloning the file

You can save an existing file as a Clone of the original. The Clone file will contain the chart of accounts, the customers, suppliers and items/products, but no transactions. The new financial year starting point is set while Cloning.

Then with both the original file and the clone file open, the operator copies the transactions from one file and pastes them into the new file or if details need to be changed in the data e.g. incorrect tax codes etc., the data is corrected before importing.

In other words the existing data can be transferred to a new file with the correct periods in which case the reporting now falls in the desired financial year. It would be relatively simple if all the different transactions would simply copy and paste but unfortunately that is not the case and it takes some experience and unfortunately trial and error when trying to do it yourself.

Pricing and Terms

• Starting at $150.00 (CAD or USD)

Prices vary based on the condition of the data entry which can be determined based on inspection. Terms are payment on delivery via cheque or E-transfer. An invoice will be issued and sales taxes will apply for Canadian residents. Prices listed are in CAD & USD. Canadian customers will be charged in CAD dollars, and USA customers in USD.

Response Time

Response times vary based on the condition of the data entry e.g. invoices, receipts without reference numbers, journals entered incorrectly with debit and credit balances on the same detail line or a large number of funds transfers cause delays. These entries have to be entered manually. So the rebiulding could take multiple days.

However,  generally speaking,  your new file with the correct time frames etc. will be returned with bank, AR & AP balanced to the original state etc., within five working days. Transactions that occurred while the file was being rebuilt would then have to be re-entered into the new file.

For more information send an email to al@loman.ca