Accounting Cutover Processes

The following procedures and information are provided to offer guidance throughout the Accounting Cutover process into Brokerage Engine Accounting.

• This process should start no later than ~1 week before Accounting cutover

• It is recommended to start earlier to help familiarize yourself with Brokerage Engine Accounting.

Step 1: Begin the Cutover Journal Entry

Note: This is just to get started on the Journal Entry. Final adjustments will mostly need to be made up to the cutover date.

Trial Balance Journal Entry Cutover

• Although you can enter the current bank balances at this stage, the final bank balance amounts will be confirmed and finalized at the conclusion of the cutover process.

Step 2: Accounts Payable Cutover

Accounts Payable (A/P) Cutover Bills

Step 3: Accounts Receivable Cutover

Agents A/R Cutover Invoices

Batch Import Cutover Invoices

Step 4: Uncleared Entries from Last Bank Reconciliation

Uncleared Entries from last Bank Reconciliation

1. Generate a report based on your most recent bank reconciliation.

2. For all uncleared checks and deposits, create the corresponding entries in Brokerage Engine Accounting.

3. Update Bank Amounts into the Cutover Journal Entry from Step 1.

Step 5: Escrow Balance Cutover (If Applicable)

1. Verify that the final balance amounts for your Escrow Account and Escrow Liability Account are equal in your current accounting platform.

2. Enter all escrow deposits directly onto your existing pending transactions within Brokerage Engine. This action will automatically create the corresponding deposit and liability entries in Brokerage Engine Accounting.

Step 6: Verification

1. Generate a Trial Balance report in Brokerage Engine Accounting and verify that it matches the cutover Trial Balance from the previous accounting system.