Trial Balance Import from Collective Accounting to Go To Thumb
Table of Contents
Overview
This guide provides detailed steps for importing a trial balance from Collective Accounting into the Go To Thumb platform. It ensures a smooth transition of accounting data for comprehensive financial analysis and reporting.
Objective
The main goal is to accurately import and reconcile trial balance data from Collective Accounting into Go To Thumb, ensuring data integrity and readiness for further financial processing.
Platforms Involved
- Collective Accounting
- Go To Thumb
Scope
This guide is applicable to accountants and financial analysts responsible for handling trial balance data between the two specified platforms.
Related Resources
No additional documents or resources are referenced for this guide.
Use Case
This procedure is utilized when transferring financial data from the Collective Accounting system to Go To Thumb for further analysis, reconciliation, or reporting purposes.
Workflow
Step 1: Log into Relevant Platforms
- Log into Go To Thumb and Collective Accounting.
- Ensure multi-factor authentication is completed for Go To Thumb.
Step 2: Access the Accounting Dashboard
- Navigate to the "Returns" section within Collective Accounting.
- Proceed to the "Bookkeeping" and "Accounting Dashboard" sections.
Step 3: Reconcile Accounts
- In the "Reconcile" section, address any open accounts by adding a closing for the earliest year available.
Step 4: Download Trial Balance and TRC Template
- Download the trial balance for the last year in XLF format.
- Ensure to also download the latest TRC template for consistency.
Step 5: Prepare the Trial Balance
- Open the downloaded trial balance and TRC template.
- Remove any unnecessary zero balances and headers.
- Adjust the format to align with the template requirements, ensuring revenue and equity are correctly marked as negative or positive.
Step 6: Import Trial Balance to Go To Thumb
- Use the "Import" function in Go To Thumb to upload the prepared trial balance.
- Confirm that all data fields are accurately mapped and complete the import process.
Exhibits / Appendices / Forms / Supporting Documents/Resources
No additional materials are included in this guide.
Change Control Log
No revisions have been documented for this guide as of its current publication.