SAP Business One Implementation projects come in many shapes and sizes. Our consulting team has taken the time from their busy schedules to share their stories of how they’ve satisfied a customers requirements for a new SAP Business One Implementation.
Recently, a Midwest manufacturing startup utilized and implemented SAP Business One 9.0 from inception, in order to build a strong foundation for the company.
The company started breaking ground around the first quarter of 2013. While the company is still building, the owners wanted SAP Business One 9.0 to capture all the equipment costs as Fixed Assets as well as expense transaction for 2013. Due to the minimal amount of information that was needed the following approach was adopted.
Journal entries were utilized to capture the entries related to cash and loan draws. Then All the AP Services Invoices related to Fixed and Expense transactions will be recorded (by Vendor). This way 2013 would payable information to the affected vendors.
Once all the Account Payables were entered and reviewed the Outgoing Payments were created for the 2013 AP Invoices. Outgoing Payments for 2013 were done thru the Bank Transfer to bypass the need for check printing. Once the Outgoing Payments were done, the transactions could then be reviewed and the 2013 periods were readied for Closing.
Once 2013 was complete, the company was ready to process Account Payable related transactions as well as Journal Entries related to year 2014. This approach was designed to allow the company to not only build their facilities, but also implement SAP Business One 9.0 in tandem. This process allows them to come on-line at their own pace in 2014, knowing that there is a strong business backbone on which the company could operate.
Once Sales start rolling in, the company can use SAP Business One 9.0 via the Sales Module. All items that can be depreciated are entered at the point of acquisition. The Fixed asset items will be uploaded and related Fixed Asset cost transactions will be entered as journal entries using the clearing account as offset GL Account for the Fixed Asset Cost GL Account to balance the entries.
Finally, a decision was made so that Straight Line Method of depreciation will be used and machines amortized over a 10 year period.
We hope this article was informative to you. Expect to see many more in the near future regarding SAP Business One Implementations.