Re: Transition to a New Company

I'm at http://www.linkedin.com/in/dgindlesperger.     References and  
all....

Sent from my iPhone, sorry about the typos!

On May 7, 2010, at 6:25 PM, "Kevin Fox" <[email protected]> wrote:

> Send me your direct contact info.
>
> Please see my linkedin account for my details:
> http://www.linkedin.com/in/kdfox
>
> Kevin
> mobile (909) 762-1384
>
>
> -----Original Message-----
> From: mapics-l-bounces-Zwy7GipZuJhWk0Htik3J/[email protected] [mailto:mapics-l- 
> bounces-Zwy7GipZuJhWk0Htik3J/[email protected]]
> On Behalf Of Gindlesperger, Dale
> Sent: Friday, May 07, 2010 3:13 PM
> To: MAPICS ERP System Discussion
> Subject: Re: [MAPICS-L] Transition to a New Company
>
> Thanks Kevin....   I've done a LOT of varied stuff, as have you.  And
> like you, I am now available, since my prior employer eliminated my
> position in a reorgaization....
>
> Sent from my iPhone, sorry about the typos!
>
> On May 3, 2010, at 4:33 PM, "Kevin Fox" <[email protected]> wrote:
>
>> Dale
>>
>> Sarbanes Oxley or not, this is the right method.  Great Summary!
>>
>> Kevin
>> mobile (909) 762-1384
>>
>> -----Original Message-----
>> From: mapics-l-bounces-Zwy7GipZuJhWk0Htik3J/[email protected] [mailto:mapics-l-
>> bounces-Zwy7GipZuJhWk0Htik3J/[email protected]]
>> On Behalf Of Gindlesperger, Dale
>> Sent: Monday, May 03, 2010 1:16 PM
>> To: MAPICS ERP System Discussion
>> Subject: Re: [MAPICS-L] Transition to a New Company
>>
>> Jeanne,
>>
>> You can do what you are asking, but there's some issues that you
>> haven't
>> mentioned.  First, is this going to be a publicly held company?  If
>> so,
>> Sarbannes-Oxley requirements will probably dictate a lot of stuff
>> you will
>> have to do.  In my experience, the "how to" on these is dictated by
>> the
>> accountants.
>>
>> I've gone through this at a prior company, and what we did was
>> create two
>> new environments ("ME" and "MS", for example), do a backup at the
>> close of
>> business on your last day of business as the old company (assuming
>> it's the
>> "MM" environment), then restore it to the "ME" and "MS"
>> environments.  Lock
>> down security in the "ME" environment to a VERY select few that
>> would be
>> responsible for closing the old business, and TOTALLY lock down the
>> "MS"
>> environment, NO changes.   That gives you a clean snapshot of the
>> close of
>> business.  This DOES assume you have plenty of disk available (but
>> disk is
>> cheap nowadays).
>>
>> ME is the environment you use to close out the old company, MS is the
>> snapshot you can refer back to to get "point of sale" questions
>> answered.
>>
>> You can then close out the books on the old company (ME), while
>> continuing
>> to run the new company as "MM".  The only issue is that you may have
>> to make
>> manual journal entries in "MM" if closing out the old company
>> impacts the
>> financials for the new company.
>>
>> That's one option.   Another one (mentioned by someone else), which  
>> is
>> equally valid is to create the new environment and run the new
>> company as
>> the new environment.  Which option you choose is actually up to what
>> the
>> accountants are most comfortable with.
>>
>> This is, of course, pretty simplified, but using this approach lets
>> you
>> cover about every contingency.
>>
>> Dale "Cork" Gindlesperger, CPIM
>> Senior Business Analyst
>> Cell:  814-442-1291
>> ________________________________________
>> From: mapics-l-bounces-Zwy7GipZuJhWk0Htik3J/[email protected] [mapics-l-bounces-Zwy7GipZuJhWk0Htik3J/[email protected]]  
>> On
>> Behalf Of Jeanne Schrader [[email protected]]
>> Sent: Monday, May 03, 2010 3:20 PM
>> To: mapics-l-Zwy7GipZuJhWk0Htik3J/[email protected]
>> Subject: [MAPICS-L] Transition to a New Company
>>
>> Good Afternoon Group,
>>
>> Our company was just purchased out of receivership, with the
>> transfer of
>> ownership in five days.
>>
>> I need to create a new environment for the 'old' company data.  Close
>> out payroll and save the W2 information for the 'old' company.  We
>> need
>> to keep AP, AR open for a time.
>>
>> We want to run the current environment as the 'new' company, our
>> CO's &
>> MO's will stay with the new company.  What happens with our GL?
>>
>> Does anyone have ideas that will help, a 'cheat sheet' for what to
>> make
>> sure gets closed, transferred, etc. when doing this?
>>
>> Thanks in advance,
>>
>>
>> Jeanne Schrader
>> IT Manager
>> Milwaukee Forge
>> Phone: 414-489-7067
>> Fax: 414-489-7090
>> email: [email protected]
>>
>>
>>
>>
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