We are possibly having a “change of hands” with our company’s ownership, and I am trying to get ready for what may need to change on the Epicor side.
Apparently not much will change on the business side if/when this happens, seems to be mostly on the finance side.
So we would be getting a new “Federal Tax ID” (Company Config Setting?), and most likely trying to set up either a new company altogether in Epicor (and basically copying everything over with DMT), or starting a new “main book”?
It seems to me that the path of least resistance would be to just change the Tax ID in company config and call it a day, as we would be continuing with all our open sales orders, jobs, PO’s etc. But we heard there could be issues with future reporting doing this?
Does anyone have any experience with this type of scenario and care to share? Pros, cons, hang-ups, suggestions?
either path will work, but it’s more of an accounting decision. Things to consider
Will this happen on the 1st of the year or something else?
Will the new date force a unique accounting period calendar?
Will this reset your asset depreciation schedules?
The assumption of AP/AR by the new company is handled differently and a new GL Book may be all you need to accomplish an ‘opening balances’ transfer and to continue working in that book.
A new Database(Company) might be cleaner all around, and DMT can certainly be your best friend for pulling in all the static stuff. the hard part will be all the AP/AR/PO/Jobs that are in play.
I’d ask for some sort of ‘grace period’ where transactions are halted for a week during the transition and new transactions are created in the new database as needed. It also allows for possibly flushing AP and AR so those subledgers come over ‘clean’.
Lots to consider, and I hope this helps. Good luck!
It may happen before the end of the year. It was recommended by one of our finance contacts at Epicor to still do a full year in the accounting period calendar due to some sort of hang-ups I didn’t fully grasp.
We have not really utilized the asset modules in our current implementation, so anything we do there would be a reset.
We were leaning towards creating a new company, but the hard part you mentioned had me looking for alternatives. It seems like in-play AP/AR will be a problem any way we do it though.
I was hoping that using the DMT playlists and playbooks paired with some well timed BAQ exports we can get it imported over a weekend when no transactions are occurring (after doing a couple test runs and getting sign-offs)
