This question was asked by an attendee during the Proformative
A video of the webinar can be viewed here https://www.proformative.com/resources/webinar-video-whats-stopping-cfos-moving-
Is it possible to export our existing accounting/ERP data that is in-house so that the transition to cloud accounting would be seamless? (Webinar Attendee Question)
Answers
It would be similar to any new software implementation, where there is configuration of the new system, setting up chart of accounts, loading customer and vendor data etc. But you might put in summary totals by G/L account for a certain number of prior years, and only have transaction data going forward.
If they are like systems, then the migration process can be fairly easy. Otherwise there would be a data conversion process. Given that there are several main players in the ERP industry, many cloud providers have been able to leverage intellectual property to create import routines to streamline and reduce the migration burden.
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Accounting