Your Software Migration Checklist to meet the July 1st Deadline
Switching to a cloud-based server before this financial year? July 1st is the ‘go live’ deadline to make the switch from old system-based servers to cloud based solutions. Our migrations team have been tirelessly working around the clock this month to ensure we meet the 1st July ‘go live’ deadline.
For those agencies managing the process in-house, we have created a software migration checklist to help manage the process.
For the lucky ones…
If you are lucky enough to have chosen a cloud solution that has a ‘migration tool’, you are in luck. It will simply copy across the data from your existing software to your new software. Unfortunately, not all cloud solutions have this migration tool. Reason being the data from the server based program is not built for extracting the data. So you are left to manually key in data. All is not lost though! Here at Angel HQ, we live by the motto: “Key It, Don’t Convert It”. You’ll benefit from starting fresh with your new database by keying in the data cleanly.
So here it is, our software migration checklist to make the process nice and simple.
- Firstly, archive all old creditors.
- Secondly, decide if you’re going to migrate all properties including archived or just active properties. Archive any records that you do not wish to bring across to the new system.
- Check payment frequency has been entered into the old system for owner disbursements.
- Update property records with bedroom, bathroom & car space information.
- Ensure to update client contact cards with relevant information.
- Update all bond amounts in the ‘received’ field and enter bond reference number from the bond authority.
- Complete inspection dates
- Enter rent increases, vacate dates and key numbers.
- Keep up-to-date. Watch tutorials and encourage staff to engage in online forums, webinars and other training to help them prepare for the changes ahead.
- Check paid to dates (you may need to update them again manually before going live as they may be different).
- Ensure all users have access.
- Update stationery with logos, footer, headers and update email signatures.
- Enter direct entry user details in the settings for your banking (otherwise you will not be able to create EFT files).
- Check ALL fees for each owner (yes, it’s a painful process but it’s better than losing a management due to charging incorrect fees).
- Check rent increases have come across or enter manually
- Enter outstanding disbursements have come across or enter manually
- Check outstanding invoices have come across or enter manually
On the Day of EOM
- Receipt as per normal in your old software.
- Complete EOM as normal and pay out ledgers as close to $0 as possible.
- Use your closing bank statement, EOM Trust Reconciliation, trial balance, unpresented deposits, unpresented cheque list and adjustments report to enter your conversion balances. You may need to load the balances in manually depending on your software.
- Finally, double check your conversion balances in the new software. Ensure they match your closing balances in the old software and accept figures.
– Jane Morgan is the Director of End of Month Angels, a consultancy firm specialising in Trust Accounting. Jane knows the legislative requirements of running a successful Real Estate office through her 20 years industry experience. Don’t trust just anyone with your trust accounting. Book an appointment with an End of Month Angel today.